French politician and lawyer, ECB President since 2019
The Bank of England has voted 7-2 to keep its policy rate at 3.75%, with two members calling for a quarter-point rise. The decision follows weaker-than-expected UK inflation in May, signs of soft growth and a tentative US–Iran truce that has eased energy prices. Markets have pushed sterling lower and expect only one hike later this year.
Global food prices increased in March, reaching their highest since September 2025, driven by energy costs and crop concerns linked to the US-Israeli conflict on Iran. The FAO warns prolonged conflict could reduce future yields and impact supply.
Anthropic has released the Mythos model to a limited group of firms under Project Glasswing and has warned it can find thousands of software vulnerabilities faster than humans. Regulators and finance leaders in the US, UK, EU and Canada have convened urgent meetings, wargames and briefings to assess risks and coordinate defensive access and rules.
The UK and US are adjusting their economic policies amid the Iran war, which is causing global energy and financial instability. UK officials are expanding support schemes for businesses, while warning of rising costs and geopolitical risks affecting markets and energy supplies.
The Bank of England has voted 8-1 to hold Bank Rate at 3.75% and has published three scenarios showing higher near-term inflation because of the Iran war and energy-price shock. Governor Andrew Bailey has said the path for policy will depend on the size and duration of the energy shock; chief economist Huw Pill has dissented for a 0.25pp rise.
France has seen multiple developments reshaping the 2027 presidential contest: Edouard Philippe has had a judicial inquiry opened over a 2020 Le Havre digital-hub contract; Reuters has reported a suspected disinformation campaign tied to a shadowy firm called BlackCore; and public rows between Kylian Mbappé and National Rally figures are intensifying the political debate.
The Bank of Japan has raised its policy rate to 1% from 0.75%, the first hike since December 2025, amid inflation concerns linked to the Iran war and a weak yen. Markets watch for future steps on tightening and bond purchases as Japan seeks to stabilize prices and growth.