Kicking the can on Iran, dovish hold from the BoE

Friday 20th June 2025

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Oil prices are still elevated over the question on whether the US will side with Israel in the war with Iran and the possible repercussions of such a move. But the US President has left the door open for negotiations, now saying he’ll decide on US involvement in the next two weeks. Meanwhile, the Bank of England kept rates on hold, whilst the Norges Bank and Swiss National Bank both cut rates. NAB’s Gavin Friend says this was the first cut in this cycle for the Norges Bank. He also discusses with Phil Australia’s employment data from yesterday and looks ahead to UK retail sales and Japan’s national CPI.

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