Swiss National Bank deputy chairman says energy prices could be materially higher than expected.

BofA: macroeconomic backdrop remains strong.

The UAE Central Bank said on Wednesday it has sanctioned the UAE branch of Iran's Bank Melli, accusing the bank of breaching local laws on money‑laundering, terrorist financing and proliferation financing. The central bank said it has prohibited all financial transactions between Bank Melli branches operating in the UAE and Iran, including trade finance and funds transfers. The measures were imposed for failure to comply with UAE regulations and legal requirements on AML, CFT and proliferation financing; last month the UAE suspended trade and financial ties with Tehran.