1414 GMT - Iran's announcement that the Strait of Hormuz will remain open during the current ceasefire has sent Brent crude prices tumbling and already makes the International Monetary Fund's latest global growth forecasts look out of date, XTB's Kathleen Brooks says in a note. While it will take time to relieve the backlog of tankers, this is undoubtedly good news, and it brightens the outlook for the global economy for the rest of this year, she says. The news is reducing upward pressure on bond yields while interest-rate expectations will also be recalibrated. "We expect to see a rapid pricing out of rate hikes from the Bank of England and the European Central Bank," she says. (edward.frankl@wsj.com)
(END) Dow Jones Newswires
April 17, 2026 10:14 ET (14:14 GMT)
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