Iran's maritime trade losses from alternatives
Central banks' monetary policies are influenced by the El Niño phenomenon, which leads to climate changes such as droughts and floods, resulting in wide-ranging economic impacts. For example, markets have seen increases in gold prices, while the value of the dollar declined following a setback in U.S. employment data. Additionally, forecasts suggest that El Niño could cause volatility in oil prices and currency markets, affecting inflation and economic growth. At the same time, some countries, like the United States, are preparing to fill their oil reserves at no extra cost.
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