Mumbai, Sept. 11 -- Monetary policy has shifted somewhat more hawkishly over the past month as persistent energy pressures and resilient economic activity have reduced the scope for further easing, OPEC noted in its September 2026 Monthly Oil Market Report. The Fed kept the federal funds rate at 3.50-3.75% in July, while subsequent meeting minutes showed that a broader group considered further tightening likely if inflation failed to moderate. This message was reinforced by more hawkish communication at the Jackson Hole meeting, as well as a relatively strong August labour-market report. The ECB held rates in July following its June increase to 2.25%, but August inflation accelerated to 3.3%, reinforcing the likelihood of additional tighten...