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The US and Israel attacked Iran on February 28.
The US and Israel attacked Iran on February 28, triggering major geopolitical tension.
KEY POINTS
- The Strait of Hormuz has been closed, causing a global oil supply crisis.
- Rising oil prices are directly increasing inflation through higher costs for goods and services.
- The Reserve Bank is now likely to impose a third interest rate rise in response.
- Recent and potential rate hikes may reverse last year's three mortgage rate cuts.
COMPANIES
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