The concern has been that this conflict in israel, between israel and hamas would lead to a widening Global Crisis that would threaten the Global Oil Supply and thats why we have seen these crude Oil Prices Rise in the last week, rising up 7. 5 , marking its biggest weekly rise since february. This morning we are seeing that we can to steady and there are a couple of reasons why there are a couple of reasons why the market is changing its tune is one of them is Bank Earnings which we pointed out on the other is present by the s planned a visit to israel. We can start with President Biden and his visit comes at a crucial type and is being taken by investors as a signal that the crisis might see efforts to be contained. We are seeing that temperance not only in the price of crude oil but also with investors pulling back slightly from some of the safe haven assets, things like cold gold and stable currencies and treasury bonds. When we get to the big Bank Earnings, this is earning season
New zealanders have been feeling the pinch from soaring prices as well as unaffordable housing. Meanwhile the central bank has pledged not to lower the official cash rate from its 15 year high Arthur Grimes from Victoria University of wellington spent a decade as chairman at the Reserve Bank Of New Zealand between 2003 and 2013. There are many priorities for the incoming government. The issue will be the structure of the government as to whether they will be able to do much to tackle the economic problems that are there. At the moment, we dont know and we wont know for another two weeks whether the new Prime Minister will be able to form a governmentjust with the act party, a smaller Libertarian Party or whether they will also need to form a three Party Coalition with new zealand first, essentially a populist pork barrel politics party, and those of the two parties cannot Work Together very coherently on economic policy, so if its going to require a three Party Coalition its going to b
Speaking this morning ahead of the Imf World Bank meeting in marrakesh, ms yellen said washington was monitoring the potential Economic Impact of the escalating conflict. Well, let me say that at this stage, we are focused on human beings that have been affected by these barbaric attacks on israel and the suffering that it has caused. As President Biden said, we stand firmly behind israel and are there to support israel in any way that is necessary. And while we are monitoring potential Economic Impacts from the crisis, im not really thinking of that as a major likely driver of the Global Economic outlook. So we will see what impact it has. Thus far, i dont think we have seen anything suggesting it would be very significant, but of course we are monitoring Economic Impacts, as well. Joining me now is yael selfin, Chief Economist at kpmg uk. At this point the humanitarian but the economic effect will be heard around the world. Janet yellen saying she does not expect an Economic Impact b
Impact in oil prices because if you even though iran has been under solutions for the last years it been quietly providing oil to customers in the globe and the white house has turned a blind eye especially the last year or two because its been trying to smooth relations between iran and the western world but now if the white house decides to enforce those sanctions, that means supply from iran would be cut off and coming at a time when oil supplies have been tightening because saudi arabia and russia, the two largest exporters of oil in the world, were also part of 0pec have collectively being reduced 1. 3 Million Barrels of oil per Day Sincejuly and will get you to do so to the end of the and there is a good chance it may continue next year as well so if this happens there will be a scenario where there will be less oil supplier, more demand, and that leads to higher prices. Major Oil Producers are not directly involved in the conflict but it has still sparked uncertainty as far as o
It is centre stage in British Politics. Italy is eating members of parliament, of the 650 At Westminster. This is the breakdown. Green, sinn fein. That represents those who want Northern Ireland to leave the 80 kingdom. And red, dup. Those are the ones that the conservatives would like to get support from. It has proved controversial. They do not approve of same six marriage. That has prompted the leader of the scottish conservatives to see this. received a categorical assurance that in talking to the dup, no row back of lgbt rights. We introduced equal marriage, to the house of commons, these are the assurances i received. That was one issue. Also some concerns about the Power Sharing agreement. Irish nationalists and unionists must work together, and for various reasons that system broke down injanuary. This is alistair campbell, who used to be tony blairs press officer. Explaining why he thinks this idea of the conservatives and the dup going together is not good. This is about the