Insights

Weekly Market Commentary – 12th September

12 September 2025

This week financial markets have been unmoved by the news flow. There was little change in headline US inflation which, at 2.9%, remains high enough to be problematic. In the UK, GDP growth stalled in July and the three-month average slowed from 0.3% to 0.2%. A bigger surprise was the decline in Chinese consumer inflation, although this was only surprising as the drop in prices was a little larger than forecast. Meanwhile, the European Central Bank left interest rates unchanged as it sees steady inflation and improving, but still modest, economic growth this year.