India's June CPI hit 4.38%, breaching the Reserve Bank of India's 4% target for the first time since January 2025, as Brent crude jumped past $79 a barrel on Strait of Hormuz fighting. Brazil's central bank held its 2026 rate forecast at 14.00%, suggesting its own easing cycle has stalled too.
Iranian IRGC’s Khatam al-Anbiya Central Headquarters issues statement asserting control over the Strait of Hormuz and warning against US interference. Source
