WORLD BANK WARNING: Israel-Iran Conflict Could Cut Global Growth to 1.3%

According to Jin10, World Bank Senior Vice President and Chief Economist Indermit Gill said renewed escalation in the U.S.-Iran conflict could push up inflation and interest rates, cutting global economic growth this year to 1.3%. Gill said the World Bank modeled three scenarios in its June economic forecast, and the worst-case scenario of a conflict lasting six months or longer has nearly become reality. In that scenario, global inflation this year would reach 4.5%.