*GLOBAL STOCKS RALLY TO START THE WEEK AS JUMBO FED RATE HIKE BETS RECEDE -
© Reuters. FILE PHOTO: People pass by an electronic screen showing Japan's Nikkei share price index inside a conference hall in Tokyo, Japan June 14, 2022. REUTERS/Issei KatoSYDNEY - Asian share markets rallied on Monday following a much-needed bounce on Wall Street, though nerves were stretched ahead of a near-certain interest rate hike in Europe and another round of corporate earnings reports.
"If gas flows do not resume meaningfully, European gas prices will surge, prompting Germany and others to enact gas and power rationing with a deep recession all but guaranteed if this were to occur," said Taylor Nugent, an economist at NAB.The uncertainty will haunt the European Central Bank as it holds a policy meeting where it is likely to kick off a tightening cycle with a rise of 25 basis points.
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