Monetary Policy
Bank of Israel holds rates ahead of budget approval
Decision follows rise in inflation, driven by tax rises to fund ongoing military operations
Bank of Korea resumes easing and lowers GDP forecast
Cut of 25bp aimed at boosting economy as country grapples with US tariffs and domestic political drama
Tariffs will induce structural change in Canada – Macklem
Increased trade frictions with US will hurt country’s economy but represent “new reality”, says governor
Egypt holds rates at 27.25%
Central bank projects gradual decline in inflation, but points to upside risks from US tariffs
Upside risks from Trump tariffs prompted Fed to hold rates
FOMC minutes show that January’s decision was partly informed by potential changes in US trade policy
China holds loan prime rates
PBoC stays put again as yuan strengthens after Trump signals potential trade talks with Xi
ECB board members express regret over QE stimulus
Cipollone says unwinding balance sheet thwarts rate cuts, while Schnabel wants “less activist” bank
Bank Indonesia holds rates at 5.75%
Central bank faces dilemma of whether to prioritise bolstering growth or propping up currency
New Zealand continues easing cycle with 50bp cut
Trade concerns take centre stage as RBNZ delivers fourth consecutive reduction
Australia cuts rates for first time since 2020
RBA delivers long-awaited 25bp reduction but says markets are overconfident about further easing
EMs resilient to US monetary spillovers, panellists say
Turkish and Thai governors discuss policy challenges at IMF conference in Saudi Arabia
Bank of Russia holds rates
Inflation ticks up as central bank updates forecast again
China to make use of all monetary tools to boost growth
PBoC flags external volatility and renews pledge to support economy in quarterly report
Rwanda holds rates at 6.5%
Central bank expects inflation to remain within target
Philippines unexpectedly pauses easing cycle
BSP would have continued cutting if not for “uncertainty over trade policy”, governor says
Powell: ‘We’re close, but not there yet on inflation’
Fed chair also addresses bank independence, climate risk and CBDCs during testimony before Congress
Zambia raises rates amid persistently high inflation
Central bank does not expect 6–8% target to be reached until at least 2027
BoJ governor: food inflation in Japan may not be temporary
Ueda’s comments mark slight change from previous statements that supply factors would dissipate
Bigger rate cut would have sent clearer signal, says BoE dissenter
MPC member says UK’s economic outlook would have justified 50bp reduction
Bangladesh pauses interest rate hikes
Central bank says it expects inflation to reach target by June
RBI eases policy by 25bp as part of efforts to spur growth
Bank makes first rate cut for nearly five years, despite inflation being above target
CNB cuts rates by 25bp as it revises growth forecast
Bank points to sticky service and food inflation, reduced demand for exports
Mexico accelerates easing with 50bp cut
Board members, unfazed by uncertainty in US, speed up loosening as inflation slows
Eurozone ‘not in a recession at all’ – Cipollone
ECB vice-president says there is “room to cut”, digital euro work continues and bitcoin is not gold