Middle East Conflict Lifts Oil; Dah Sing's Wan Expects One U.S. Rate Hike in Q3-Q4

Rising oil prices driven by the Middle East conflict could raise the chance of one U.S. interest-rate hike in the third to fourth quarter this year, Dah Sing Financial Group chief economist and strategist Wan Ka-wai said. According to Ming Pao, Wan said major central banks are concerned supply-chain shocks could spread into higher inflation expectations and push up other inflation components, noting services inflation has recently risen to 3.3%, prompting rate hikes to guard against second-round inflation effects.