BOT expects inf to exceed the target range later this year.

The Federal Reserve Bank of Dallas estimates in a new study that a recent spring oil surge above $120/bbl reduced U.S. output by roughly 0.3 percentage point, far less than similar shocks in the 1980s when U.S. oil import dependence was higher. A U.S.-backed war on Iran cut about 15% of global oil supply, disrupted Strait of Hormuz shipping, roiled commodity markets, pushed prices higher, caused regional shortages and weighed on overall demand.

Ahead of MWC Shanghai opening June 24, GSMA released a report estimating mobile technology generated $1.5tn of economic value in China in 2025 (about 7.2% of GDP) and that contribution will rise to $2.1tn by 2030. GSMA also said China accounts for more than 40% of global 5G connections.