Monetary Policy
China holds key lending rates as expected
Central bank keeps one- and three-year LPRs at 3% and 5% respectively
Norway, Sweden and Switzerland cut, while Moldova holds
Swiss and Nordic banks ease policy by 25bp
Brazil raises policy rate to 15% and signals ‘prolonged’ hold
BCB makes seventh consecutive hike; inflation trends downwards but still above target
Fed maintains wait-and-see approach with rate hold
Powell ignores Trump’s calls for easing amid president’s continued insults
BoE holds rates, as three MPC members call for cut
Dissenting policy-makers highlight labour market weakness and lower pay growth
Philippines cuts policy rate by 25bp
Central bank points to improved outlook for inflation, as well as threats to growth from global events
Chile holds rates at 5% again
Inflation slows and growth exceeds expectations, though war in Middle East adds uncertainty, BCCh says
Bank of Namibia holds policy rate at 6.75%
Central bank maintains cautious stance as inflation eases and growth continues
Indonesia holds rates
Central bank says it considered inflation and uncertain global outlook when making decision
Experts expect Fed to hold firm in face of Trump’s attacks
Economists believe FOMC will hold rates, despite White House’s calls for policy to be eased
BoJ holds rates, plans to slow bond purchases
Central bank keeps policy rate at 0.5%, will reduce JGB taper from next year
Pakistan holds interest rate at 11%
Central bank says policy at right level to push inflation towards 5–7% target
Policy must be forceful to anchor expectations, panel hears
Central bankers discuss lessons from post-Covid inflation surge at Summer Meetings
Mexico’s deputy governor hints at rate hold
Heath says analysts disagree with central bank over timeline on taming inflation
Trump: Powell is a ‘numbskull’ for not cutting rates
President calls for 100bp easing, while vice-president says Fed policy is “monetary malpractice”
A fireside chat with BIS head Agustín Carstens
The lifetime achievement award-winner speaks with Chris Jeffery about how experiencing inflation shaped his career, gaps in economic theory and macro-pru governance, the future of money and the importance of international co-operation
Central bankers discuss policy-making amid high uncertainty
Flexibility, caution and financial stability analysis can support monetary policy, panellists say
ECB to move to ‘hybrid’ balance sheet model – Finland’s Välimäki
Bank of Finland board member heralds “new dawn” of Eurosystem monetary policy implementation
Russia’s rates cut does not presage shift in stance
Experts say central bank remains alert to inflation risks and will maintain ultra-restrictive policy
Forecasting and narratives under uncertainty
Jagjit Chadha argues the Bank of England should deploy better analysis as the basis for clear communication under uncertainty
Banque de France governor declares victory over inflation
Villeroy de Galhau says France has to “spend better” to reduce debt
Tariffs will raise US prices throughout 2025 – Fed governor
Kugler says progress on core goods inflation has been reversed and trade policy could make things worse
Inflationary shocks hurt US labour market and output – Fed study
As real wages decline, workers search for new, less economically productive jobs, research finds
RBI cuts rate by 50bp to 5.5%
Bank continues to loosen policy amid cooling inflation and global uncertainty