The global economy will face a period of elevated key interest rates due to the economic consequences of the war waged by the United States and Israel against Iran. Bloomberg reported this.

Experts from Bloomberg Economics, the agency’s analytical division, presented their July forecast. It notes that the average key interest rate of central banks in the world’s leading economies will remain at an elevated level at least until 2028.

At the end of 2026, it will stand at 5.10% instead of the 4.41% forecast in January, that is, before the start of the war in Iran. By the end of 2027, the figure will decline to 4.50%, while the gap from the January forecast will amount to 0.75 percentage points. In 2028, this difference will remain at about 0.50 percentage points.

As the agency writes, the report reflects inflationary risks associated with the consequences of the energy crisis caused by the halt of shipping through the Strait of Hormuz during the war in Iran, as well as the active adoption of artificial intelligence technology. The Bloomberg Economics forecast covers 23 countries, which account for 90% of global GDP.