In this episode, Jane Parry, Group Chief Marketing Officer, is joined by Tom Hibbert from the Chief Investment Office to explore how the world’s most influential central banks are shaping market sentiment as we head into year-end. Together, they cover:

• Why markets have been ‘rangebound’ and what that tells us about investor sentiment
• Why the Fed is cutting rates despite a surprisingly ‘hot’ US economy
• What Kevin Hassett’s rise as frontrunner for chair of the Fed could mean for policy independence
• Why the BoE looks set to follow with rate cuts of its own
• How Japan’s first potential rate hike in nearly 20 years is reshaping its bond market
• Whether rate cuts - or hikes - could ultimately fuel a classic Santa rally.

Tom explains how these shifts across the central banks are feeding into broader market sentiment and what that may mean as we head into 2026.

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