The Open Bell — Ep. 029 — 31 Jul 2026
Today on The Open Bell:
The US economy slowed sharply in Q2 and inflation is finally cooling, but both things are happening for the same reason, which is that oil prices fell, which is itself a consequence of the Middle East conflict, so the "good news" on prices and the "bad news" on growth aren't really two separate stories.
A drone hit an American gas tanker in Egypt yesterday, the first attack of this war on a vessel at Damietta, and the port sits right next to the Suez Canal, the last functioning safe route for Gulf oil heading to Europe, so this one matters well beyond the ship itself.
The Bank of England held UK interest rates at 3.75% today but three of the nine policymakers on the committee voted to raise them, which is a closer call than almost anyone expected and a real signal that another hike is on the table when they meet again in September.
If today's episode helped you get your head around a genuinely complicated news day, a five-star rating helps the next listener find the show.
Hosted by Alex Monroe. New episodes every weekday morning at theopenbell.co
Not investment advice. For informational purposes only.
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Chapters: 00:00 Introduction 00:25 US Q2 GDP Slows to 1.5% as PCE Inflation Cools to 3.3% 03:08 Drone Strikes US LNG Vessel at Egypt's Damietta, Rattling Su 05:29 Bank of England Holds at 3.75% in Tight 6-3 Vote, Flags Hike 07:14 Closing thoughts