NAB remains a core Australian lender navigating global markets as inflation news and regional tensions ripple through capital flows.
The Office for National Statistics has reported UK CPI inflation at 2.6% in June, down from 2.8% in May — the weakest rate since March 2025. Falling motor fuel, food and clothing prices have pulled the index lower, but renewed Middle East hostilities and a higher Ofgem price cap are pushing forecasts for inflation and interest rates back up later this year.
The weekend has seen a pause in Iran’s retaliatory strikes as talks with Oman progress on safe passage through the Strait of Hormuz. The US has held off further strikes, while Yemen’s Houthi actions have expanded and crude prices have eased from earlier spikes, though Brent remains above $90 a barrel.