From Middle East headlines to central bank decisions

This week Imogen Bachra is joined by Ian VanderHorn and Oriane Parmentier to discuss some key central bank decisions. They examine the latest developments from the ECB, previews next week’s Fed and Bank of England meetings, and explore how geopolitical tensions, inflation dynamics and politics are shaping market expectations. Key topics: * The ECB remains data-dependent but has not closed the door on additional rate hikes.* Strong US labour market data complicates the inflation outlook but does not yet point to a significant inflation reacceleration.* The first Fed meeting under Kevin Warsh will be closely scrutinised for signs of a shift in policy communication.* The Bank of England meeting may appear routine but could influence expectations for July and beyond.* Fiscal and political risks in both the US and UK remain important themes for rates markets in the second half of the year. This episode was recorded on 11 June 2026.  You can also find this episode of Bondcast on Spotify and Apple Podcasts.  Remember to hit subscribe so you can listen to the latest episodes in this series as soon as they're available and get our views on the big themes and events moving markets and shaping the economy. For any terms used please refer to this glossary: https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html