Guardian Business
Rolling coverage of the latest economic and financial news Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Uncertainty over the US-Iran ceasefire deal has triggered a rise in oil prices this morning. Those overnight losses follow several indications that the ceasefire isn’t holding quite as expected on Tuesday night. For instance, both the UAE and Kuwait said yesterday that their air defences had been intercepting drones from Iran. And on the Iranian side, their Parliament’s Speaker Ghalibaf said that three points of the ceasefire agreement had been violated. Moreover, the IRGC warned of a “regret-inducing response” if Israel’s strikes against Lebanon didn’t stop immediately, whilst the Fars news agency said that the passage of oil tankers through the Strait of Hormuz was halted because of Israel’s continued strikes on Lebanon. So collectively, that’s raised concern about how durable this ceasefire will prove, particularly with it only being a two-week truce.” He also criticised NATO in a separate post overnight, saying that they weren’t “there when we needed them”, and called on people to “remember Greenland, that big, poorly run, piece of ice!!!”. So that raised concerns about a repeat of mid-January, when Trump’s call for the US to take Greenland and the threat of European tariffs drove a risk-off move in global markets. 8.30am BST: Bank of England governor Andrew Bailey appears before the European parliament committee on economic and monetary affairs 9.30am BST: Bank of England credit conditions survey for Q1 2026 1.30pm BST: US gross domestic product, initial jobless claims, PCE inflation measure and wholesales inventories 3pm BST: IMF managing director Kristalina Georgieva expected to deliver a speech on the outlook for the global economy and outline key policy priorities for member countries Continue reading...
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