Uruguay cuts policy rate to 5.75% after external shock, with inflation still below target

Uruguay’s Central Bank cut its benchmark policy rate by 75 basis points to 5.75%, from 6.5%, in a unanimous decision and the seventh consecutive reduction, as it weighed the market impact of the renewed Middle East conflict and a rebound in the U.S. dollar.

Pakistan aims to walk tightrope between Saudi Arabia and Iran as war flares in region

Iran’s nuclear-armed neighbour Pakistan has invoked its mutual defence pact with Saudi Arabia in response to Tehran’s missile and drone attacks on the kingdom, in what analysts have described as a key test of Islamabad’s emerging role in the Middle East’s security architecture. A gently worded warning to the Islamic Republic, delivered by Ishaq Dar, Pakistan’s deputy prime minister and foreign minister, has established Islamabad as a go-between to manage the escalation. Briefing the Senate on...

By Tom Hussain

Stock market today: Dow, S&P 500, Nasdaq futures rise as Iran reportedly calls for talks to end conflict