No alarms and no surprises

In this episode of Bondcast, host Ian Vanderhorn and guests discuss recent monetary policy decisions made by the Bank of England (BoE) and the Federal Reserve. And while the policy rates delivered few surprises, there is still much for markets to think about. Paul Robson provides insights into the BoE's interest rate hold and the adjustments in quantitative tightening, while Ian analyses the Fed's recent rate cut, its forward guidance, and whether markets are in line. Finally, Oriane Parmentier concludes with an update on the German DMO's funding strategy and its impact on market dynamics.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.This episode was recorded on 18 September 2025, and captions are automatically generated.For any terms used please refer to this glossary https://www.natwest.com/corporates/insights/markets/glossary.htmlPlease view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html