- Jamie Dimon, CEO of JPMorgan Chase, has warned that the world will face "significant" interest rate shocks as a consequence of Donald Trump’s war on Iran.
- He said spiralling oil and gas prices, caused by Iran's blockade of the Strait of Hormuz and attacks on energy infrastructure, will lead to "stickier" inflation.
- Higher interest rates would result in more costly borrowing for loans, mortgages, and government, potentially leading to lower economic growth and disruptions in global supply chains.
- Writing in his annual letter to shareholders of the world’s biggest bank, Mr Dimon also appeared to criticise the combative approach taken by Mr Trump, suggesting it could weaken democracies and make nations susceptible to the whims of "bad actors".
- The Bank of England maintained interest rates at 3.75% last month, with its Monetary Policy Committee set to meet again on 30 April amidst differing market and economist expectations.
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