0:00
I don't think we're going to see any monetary policy changes at any of these meetings
0:03
In terms of the Fed, the BOE and the ECB, we've already seen the RBA in Australia hike rates
0:09
but that was already expected anyway. The thing is, you have to look at not only where the central
0:13
bank is now, but how it's gotten here and what the situation is. And it's two very
0:18
very different situations for the US and for the UK. In the US, inflation is pretty elevated. We
0:24
saw the PCE data last week actually come in higher than expected for core measures at 3.1%
0:29
So that rings a little bit of alarm bells. We've also seen the unemployment rise in the US. We saw
0:34
the NFP figure. I think it was a drop of 90,000 roughly, which was unexpected. But at the same time
0:39
growth has remained pretty resilient. I mean, in 2025, we still saw quarter on quarter growth of
0:44
4%, 3%. I think the latest figure was 0.7%. Compared with the UK figures. Exactly, which the UK figures
0:50
came in at no growth in January. So the US is in an awkward position for the Federal Reserve, but
0:57
they still have a little bit more wiggle room. The UK, on the other hand
1:00
I believe is one of the central banks is gonna find it most tricky
