The Bank of Japan raised its benchmark rate to 1%, the highest since 1995, citing energy-driven price pressures and rising inflation expectations. The move continues Japan’s shift away from decades of ultra-low borrowing costs.
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Oil prices dropped after Trump announced an initial US-Iran deal to reopen the Strait of Hormuz, but shipping, insurance and mine-clearing hurdles could delay a return to normal. Analysts warn energy, fertiliser and consumer prices may remain under pressure for months.
An Israeli strike on Beirut’s Dahieh area killed at least three people and prompted President Donald Trump to say the attack should not have happened as a US-Iran deal neared. Iranian officials blamed the US and Israel for the consequences and warned of a response.
Trump and Pakistan said a U.S.-Iran deal could be finalized within 24 hours, but Iran said it would not be signed Sunday. The proposed memorandum includes provisions on the Strait of Hormuz, the U.S. blockade of Iranian ports and Iran’s enriched uranium stockpile.
Anthropic disabled access to Fable 5 and Mythos 5 after the U.S. government ordered it to block foreign nationals from using the models over security concerns. The company said the directive was based on a narrow alleged jailbreak and stemmed from “a misunderstanding.”
US and Iranian officials said a ceasefire deal may be close, but conflicting accounts over sanctions, nuclear terms and the Strait of Hormuz left the outcome uncertain. Pakistan’s prime minister claimed a final text had been agreed, a statement neither Washington nor Tehran confirmed.
India lodged a “strong protest” with the United States after three Indian sailors were killed in a U.S. strike on the Palau-flagged M/T Settebello in the Gulf of Oman. U.S. forces also disabled two other tankers this week as part of a naval blockade linked to Iran.
Israeli strikes killed at least 16 people in southern Lebanon on Wednesday, Lebanese state media reported, while the BBC reported a toll of 17. The UN said it will send investigators to assess possible violations of international law by all sides.