There's growing concern about the impact of the Middle East conflict, and at least one major bank has forecasted increases to the OCR.

ANZ has revised its outlook, with forecasted increases to the OCR bringing rates up to 3 percent by October.

Associate Finance Minister Chris Bishop says skyrocketing fuel prices will have a flow-on effect on the New Zealand economy - and it's likely inflation will spike too.

"That's an unfortunate reality of global events...the forecast will properly come out with the Budget, that's the kind of next major event."

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Herald business commentator, Fran O'Sullivan on who needs what from the Singapore trade deal designed to kick in at crisis time.

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Former Lieutenant General Karen Gibson explains what could come next following failed peace talks with Iran over the weekend.

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Investment strategist, Zoe Wallis with your monday markets update.

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There are two sets of disruption impacting investments and the world economy.Andrew Bascand - Co CEO, Harbour Asset Management.

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Global oil prices have shot up again, with Donald Trump gunning for authority over the Strait of Hormuz.

The President's announced a naval blockade on Iranian ports, after peace talks collapsed in Pakistan yesterday.

Despite the ceasefire, he's looking at resuming strikes.

Harbour Asset Management expert Shane Solly explained further.

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Labour's leader is demanding clarity on spending commitments in the India free trade deal - and isn't sure whether the party will back it.

The deal lives or dies on Labour's decision, with Coalition party NZ First refusing support.

Chris Hipkins says he's concerned about a clause he claims requires Kiwi businesses to invest $30 billion in India over 15 years.

He says he wants to see legal advice before making a final call.

"If that is a binding commitment, that we have to spend $2 in India for every dollar we get back from India, then is that a deal we should be supporting? That's a very live question for us."

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OCR hikes are now expected to come much faster.

Economists have been adjusting their forecasts after the Reserve Bank last week said it would take "decisive and timely" action if inflation continued to rise.

ANZ's gone from forecasting one increase in December to three consecutive increases in July, September, and October.

Infometrics Principal Economist Brad Olsen told Mike Hosking the Reserve Bank appears to be learning its lessons from the Covid inflation spike.

He says during that previous shock, the central bank took too long to respond.

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