Analysts from Malayan Banking have indicated that a situation reminiscent of the 2022 energy crisis is once again influencing central bank decisions. According to Jin10, the repercussions of the conflict in Iran mirror those of the Russia-Ukraine conflict, leading to a sharp rise in energy prices. A series of central bank decisions this week highlights that policymakers are closely monitoring the current situation. Observations show that several major central banks, including the Reserve Bank of Australia and the Federal Reserve, have shifted towards a hawkish stance, resulting in significant declines in gold and silver prices. As central banks take action to stay ahead of the yield curve, another round of position adjustments may be underway. Many central banks faced criticism in 2022 for maintaining overly loose policies based on the expectation that the energy shock would be temporary. This time, central banks are adopting a more proactive approach.