Monetary Policy
Kenya revives interest rate corridor
Controversial 2016 law capping rates undermined earlier attempt at corridor
Some FOMC members sought pause in July, minutes show
Participants pointed to signs of loosening labour market and slowing consumption
Norway raises rates and signals further hike is likely
Norges Bank will increase rates in September if forecast is accurate, governor says
Central Bank of the Philippines holds policy rate
Governor pledges further increases if necessary as central bank raises inflation forecast
RBNZ holds policy rate but revises up projection
Central bank expects rate to stay higher for longer and raises estimate of neutral rate
Uganda cuts rate for first time since 2021
Central bank head refuses to comment on World Bank decision to halt funding
Bank of Russia raises rates in emergency meeting
Board says domestic demand is boosting depreciation’s effects as Putin adviser criticises governor
Argentine central bank intervenes after Milei win
BCRA hikes rate 2,100bp and devalues peso after central bank opponent leads primary elections
PBoC cuts key rates as economy stutters
China stops publishing youth jobless rate after record-high figure in June
Bank of Mexico holds rates
Board decides not to follow Chile and Brazil’s rate cuts despite falling inflation
Too early to declare victory over inflation, says RBA’s Lowe
Outgoing governor warns sticky services inflation could shift Australians’ expectations
DRC orders huge policy rate rise at unscheduled meeting
Increase is needed to combat accelerating currency depreciation and inflation, MPC says
RBI holds main rate as food prices drive inflation surge
Indian central bank imposes cash ratio on banks as Das says food-driven shock may be temporary
BoJ board member says sustained 2% inflation within reach
Firms may have become more willing to raise wages, some policy-makers noted in July meeting
Bundesbank cuts remuneration of government deposits to 0%
Measure could further reduce availability of high-quality collateral in the eurozone
Fed rate hikes propel ‘crypto cycle’ – IMF paper
Monetary policy more correlated with institutional investment in tech than finance
Brazil split decision not a problem for central bank credibility
Central bank voted 5–4 for larger-than-expected cut
Rates round-up: Ukraine cuts rate for first time since invasion
Thailand, Egypt and North Macedonia tighten policy; Georgia joins Ukraine in easing
IMF’s Selassie calls for ‘pragmatism’ on exchange rates
Official challenges idea that resisting depreciation is always the best policy
Brazil makes first rate cut in cycle
Board divides 5–4 over size of reduction, with majority backing larger 50bp option
BoE raises rate 25bp as ‘mixed’ data clouds outlook
“I don’t think it is time to declare it is all over,” Bailey says
AI can forecast inflation more accurately than professionals – St Louis Fed
Large language models may be powerful tools but have some drawbacks, researchers say
Colombian central bank holds rates for second meeting
Board stresses inflation remains higher than in advanced economies and Latin American neighbours