POWELL: EVERY SUPPLY SHOCK HAS CAPABILITY OF DRIVING UP INFLATION AND UNEMPLOYMENT

China / Corporate & Policy - China to implement zero tariffs on all African countries with diplomatic ties starting May 1, 2026 - BYD Co.: first-quarter net profit 4.085 billion yuan, down 55.38% year-on-year Energy & OPEC+ - United Arab Emirates to exit OPEC and OPEC+ starting May 1 - Saudi Aramco extends suspension of LPG deliveries through end-May - Iraqi oil official: Iraq has no intention of leaving OPEC or OPEC+ Central Banks - Bank of Japan holds rates as expected; three board members call for rate hikes Geopolitics – US–Iran - Sources: Iran expected to submit revised peace proposal soon - Trump: Iran wants the US to reopen the Strait of Hormuz as soon as possible - US bans its persons and entities from paying Hormuz transit fees to Iran; warns non-US entities face significant sanctions risk for doing so - Iranian military: does not believe the war has ended; forces’ objectives and equipment have been upgraded - US Energy Secretary: Strait of Hormuz can reopen without clearing all mines; no plan to ban US energy exports

美聯儲主席鮑威爾：認爲關稅通脹今年應會減緩，預計很快會開始。