Oil-Driven Rate Hike Cycles Accelerate as ECB Raises Rates and Bond Yields Surge Globally

The European Central Bank raised its deposit facility rate by 25 basis points to 2.50% on Thursday, its second increase since the outbreak of the Middle East conflict. The move, designed to combat inflation fueled by crude oil prices that have surged above $107 a barrel, signals a new phase in the global monetary tightening cycle as central banks grapple with energy-driven price pressures. ECB President Christine Lagarde stated that "inflation is set to remain well...