March 30, 2026
United States:
Bessent Says US to ‘Retake’ Hormuz Strait Control, Eyes Escorts
Treasury Secretary Scott Bessent indicated optimism about a reopening of the Strait of Hormuz for passage of cargo ships and said the administration is steadily moving to address the shortage of global oil supplies.
“Over time, the US is going to retake control of the straits, and there will be freedom of navigation — whether it is through US escorts or a multinational escort,” Bessent said in an interview Monday on Fox News.
Europe:
German Inflation Surges to Highest in More Than Year on War
German inflation accelerated sharply in March after the Iran war boosted energy costs, supporting the idea that the European Central Bank will have to raise interest rates.
Consumer prices rose 2.8% from a year ago — faster than February’s 2% advance — the statistics office said Monday.
Asia:
BOJ Summary Displays Hawkish Tilt With Debate on Size of Hike
The Bank of Japan’s policy board presented a hawkish posture in a summary of opinions aired during their meeting earlier this month, with one member hinting at the possibility of having to respond to the Middle East conflict with a bigger rate hike than those recently undertaken.
“If there are no signs of a significant deterioration in the economic environment or in the wage setting stance of small firms, the bank will need to raise the policy interest rate without hesitation,” one of nine board members said, according to a summary of the March 18-19 meeting released Monday.
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