Monetary Policy
Colombia resumes rate hikes in first post-election decision
Analyst says 75bp hike may be attempt by Banrep to compensate for April’s ‘compromise hold’
Jamaica holds rates at 5.5%
Central bank expects headline and core inflation to breach upper range of its 4–6% target
RBA outlines monetary tools for stimulus when rates are low
Central bank says additions to policy toolkit make it better prepared for shocks
Mervyn King on his career and big ‘mistakes’
The former BoE governor speaks with Christopher Jeffery about the value of transparency, lessons from the GFC, the need to track broad money and tie short-term funding to haircut collateral, and danger presented by non-banks
Banxico holds rates at 6.5% in end to easing cycle
Board says inflationary risks remain ‘tilted to the upside’, despite recent easing of price pressures
Governors move markets as much as ECB board members – paper
Presidents' speeches have greatest influence, followed by those given by heads of national central banks
Russia rates decision shows Nabiullina ‘in a good position’
Analyst says governor’s warning of fiscal policy’s inflationary risks illustrates Putin’s reliance on her
Paraguay holds rates at 5.5% for fourth time
Central bank expects inflation to remain below 3.5% target over the coming months
Thailand holds with an eye on GDP
BoT says impact of Iran war less severe than expected but growth still ‘low and uneven’
BoJ’s June summary signals more tightening to come
Japanese board saw inflation quickening and said rates should be raised if this occurred
Hungary cuts by 25bp, signals more easing to come
Central bank says households’ inflation expectations have declined ‘significantly’ in recent months
ECB’s June hike ‘defensible’ but bank should be cautious – study
Uniform rate hikes are ‘bad, short-term oriented policy’, researcher says
China holds LPRs for 13th consecutive month
Decision comes after governor says ‘slower, more efficient credit growth’ may be new normal
Bank of Russia cuts by less than expected
Governor cites pro-inflationary risks for decision to ease by 25bp rather than the anticipated 50bp
Brazil cuts rates to 14.25% despite worsening inflation
Copom forecasts 5.2% price growth for 2026 and 3.7% by end of 2027
Switzerland and Norway hold, Czech Republic and Moldova hike
SNB says inflation uptick is temporary, while CNB and Norges Bank highlight wage pressures
Botswana holds rates, while Namibia tightens by 25bp
Southern African nations remain cautious, despite deal between US and Iran
BoE holds interest rates at 3.75%
Governor says he would respond ‘promptly’ to stronger second-round effects of Iran war
Philippines and Indonesia tighten by 25bp
BSP says inflation ‘strong’ as BI’s focus remains on rupiah
Foreign central banks can soon repo Chinese bonds, PBoC says
Experts say move is likely to increase monetary authorities’ demand for Chinese debt
Fed holds rates in first meeting under Kevin Warsh
FOMC drops easing bias and forward guidance, as chair announces taskforces to improve Fed operations
Chile holds rates for fourth time in a row
Policy-makers say balance of risks to inflation is shifting towards equilibrium
Riksbank holds, but keeps option to hike on the table
Updated forecast builds on assumption that oil supply will begin to normalise ‘in the near term’
Jim Bullard on Kevin Warsh’s first FOMC and Fed independence
The Federal Reserve veteran speaks with Christopher Jeffery about Iran and the US economy, the ‘good' AI bubble, cutting the Fed’s balance sheet and staff, and the need to clarify swap rules and recapitalise the regional Feds