German Central Bank urges caution on Iran deal

The German central bank has warned against premature optimism following the framework agreement between Iran and the United States. It pointed out that closing and reopening the Strait of Hormuz could take months, with some production facilities being damaged and reserves declining. It predicted that Iran's conflict and falling oil prices would increase inflationary pressures, with the possibility of energy costs continuing to rise and impacting inflation and economic growth. Growth is expected to be limited to 0.5% this year, accelerating to 1.4% by 2028. The bank also noted the potential for interest rate hikes in the Eurozone to counteract inflation.

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