BOC minutes: rising cost pressures will ultimately feed through to core inflation.

Fars News reported Iran’s Supreme National Security Council secretary Rezai said the Strait of Hormuz will not reopen until Iran’s seven conditions are met.

India held separate high-level talks with Russia and Ukraine on Monday as New Delhi seeks a more active role in efforts to end the war, ahead of a U.S.-brokered round of peace talks scheduled to begin Tuesday. Prime Minister Modi spoke with Ukrainian President Zelenskiy and offered India’s willingness to contribute to efforts to end the conflict, the government press office said. Foreign Minister Jaishankar spoke with Russian Foreign Minister Lavrov to discuss bilateral and global issues, the Russian foreign ministry said.