WASHINGTON, Oct 15 — Economists and market strategists are anticipating further ripple effects globally from the Middle East conflict, watching to see if the situation draws in...
Deloitte, Ernst & Young: With Malaysia’s new capital gains tax, real property gains tax needs amendment to avoid double taxation
Economists and market strategists are anticipating further ripple effects globally from the Middle East conflict, watching to see if the situation draws in other countries with the potential to increasingly drive up oil prices and send capital flowing to safe havens.
“It looks like we’re headed for a massive ground invasion of Gaza and a large-scale loss of life,” said Ben Cahill, senior fellow in the Energy Security and Climate Change Program at the Centre for Strategic and International Studies . “Anytime you have a conflict of this scale, you will have a market reaction.”
An expanding conflict would also likely cause inflation and, as a byproduct, interest rates around the world to accelerate, said Bernard Baumohl, chief global economist at The Economic Outlook Group in Princeton, New Jersey.
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