ECB, BoJ tighten and RBA holds in five-day window as Iran-related energy shock halts rate-cut cycle

The European Central Bank, the Bank of Japan and the Reserve Bank of Australia all adjusted policy within five days, with the ECB raising rates on June 11 and the BoJ following on June 16. The RBA held rates on June 16 after three earlier hikes this year. All three pointed to an energy shock linked to the Iran conflict as a key driver, even after a peace deal was signed on June 15.