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Asian central banks prepare for conflict-induced energy shock

IMF’s Georgieva says Iran war creates energy and confidence risks for most of region

Oil rigs

Economic leaders and analysts in Asia-Pacific point to energy shocks as the key risks for the region’s economies, as central banks begin to formulate their responses to the fallout from the conflict in the Middle East.

Energy prices have continued to rise while Asian currencies have weakened as the US and Israel continue to launch co-ordinated attacks on Iran and the Islamic republic launches counterattacks on countries across the Gulf. Reuters reports that as much as 60% of Asia’s oil imports –

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