Monetary Policy
Morocco holds following drop in inflation
Central bank maintains policy rate at 2.25% as non-agricultural growth strengthens
Paraguay maintains policy rate at 6%
Central bank delivers 15th consecutive hold as inflation trends towards new 3.5% target
Thailand holds rates as trade talks with US continue
Central bank says tariffs are among reasons for projected economic slowdown in 2025
BoE’s Greene defends new balance sheet strategy
Cross-border arbitrage of central bank facilities a “feature, not a bug”, says MPC member
BoJ board member says rate rises likely
Naoki Tamura predicts tightening of policy as economy improves
Stablecoins will not revolutionise money, says BIS
But a “trilogy” of tokenised assets on a unified ledger might, organisation concludes
Bowman is latest Fed member to call for July rates cut
Vice-chair for supervision joins Waller in saying risks to growth outweigh risks to inflation
Central banks must rethink how they speak
Communication is critical for effective policy and social media is not merely a channel of communication, it is a space for dialogue, a feedback loop and a reputational battleground, writes Biagio Bossone
Paraguay’s Carvallo Spalding on resilience and cutting its inflation target
The Central Bank of Paraguay (BCP) governor speaks about lowering the inflation target to 3.5%, opening up to foreign investors and promoting inclusion through digital payments
Turkey holds policy rate at 46% as inflation trend moderates
MPC maintains tight stance to anchor disinflation and restore price stability
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