Jackie Bowie featured in ICAEW on subdued growth and persistent inflation

Markets are adjusting to a more difficult macro environment. Higher energy prices and early signs of slowing growth are beginning to move together. WTI crude remained near $100 per barrel following its recent surge, keeping inflation risks in focus. Equities declined, with the S&P 500 down...

The Bank of England’s (BoE) Monetary Policy Committee (MPC) voted unanimously to keep interest rates at 3.75% today, as they warned of a rising risk to the path of inflation and economic outlook from the worsening conflict in the Middle East. While the decision itself was widely expected, the...

On Wednesday, March 18, 2026, the Federal Open Market Committee (FOMC) voted to hold the federal funds rate unchanged at a range of 3.50%–3.75%. All members supported the decision except Governor Miran, who dissented in favor of a 25 basis point (bp) cut. The Committee emphasized increased...

Oil prices surged after disruption in the Strait of Hormuz, reviving stagflation fears as growth weakens and energy costs rise. February inflation looked contained, but markets now expect renewed pressure, leaving the Fed cautious and investors focused on rates, spending and global central banks.

Markets were choppy as investors rotated out of tech on AI job displacement fears. The S&P 500 fell 2% and the 10-year yield rose to 4.15% as February payrolls dropped 92,000 and unemployment ticked up to 4.4%. Middle East escalation lifted oil and gas, complicating the Fed outlook. CPI and PPI...

Middle East tensions rippled through rates and FX, with oil-driven inflation concerns reversing the recent disinflation-led rally in swap rates. The shift makes expected central bank easing less straightforward and has strengthened the dollar’s safe-haven appeal.

Jackie Bowie quoted in IFR on Iran conflict and inflation.