The Globe and Mail reports in its Saturday, March 21, edition that one of President Donald Trump's stated goals in attacking Iran was to contain the nuclear threat posed by that country. The Globe's Jason Kirby and Mark Rendell write that now, three weeks later, amid turmoil in energy markets and falling stocks, economists are concerned about economic contagion from the conflict. The International Energy Agency says the disruption to shipping through the Strait of Hormuz has triggered "the largest supply disruption in the history of the global oil market." Oil prices have fluctuated sharply as traders respond to conflicting statements from the White House and Pentagon. The oil price shock has led to a huge repricing of market expectations for monetary policy. As of Friday, financial markets are betting that the Bank of Canada will hike interest rates three times this year, starting in July, in response to higher inflation. Just two days earlier, markets expected only one rate increase, while prior to the war, the Bank of Canada was seen holding steady through 2026 or possibly even cutting rates. For its part, the Bank of Canada is not sounding the alarm about inflation -- yet.