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Australian Treasurer Warns Global Economy Is a ‘Dangerous Place’

Australian Treasurer Jim Chalmers

Photographer: Hilary Wardhaugh/Getty Images

Takeaways by Bloomberg AI

Israel’s air strikes on Iran’s nuclear facilities and the Islamic Republic’s retaliation represents a “perilous” moment for the Middle East, and together with turmoil elsewhere means the global economy is a “pretty dangerous place right now,” Australian Treasurer Jim Chalmers said Monday.

Chalmers pointed out that a surge in oil prices since Friday’s strikes had prompted money markets to increase bets on interest-rate cuts in Australia, suggesting traders are more focused on the implications for economic growth than near-term inflation. The conflict between Israel and Iran entered a fourth day on Monday, stoking fears of a wider war in the oil-rich region.