Monetary Policy
Ukraine opts to keep rates higher for longer
Central bank holds at 15.5% and says policy must remain “rather tight” if 5% inflation target is to be met
New Zealand expects continued easing amid trade uncertainties
RBNZ chief economist says tariff uncertainty likely to slow inflation and growth
Sri Lanka holds rate as US tariffs loom
Central bank keeps policy rate at 7.75% amid domestic economic and global trade uncertainties
US firms face up to $71bn of extra costs from tariffs – study
Authors say additional complexities mean findings are likely to be on the conservative end of costs
Hungary holds rates for 10th consecutive time
Economy continues to stagnate despite rising household lending
RBA waiting for more data before deciding whether to cut rates
Minutes of last meeting show board favoured easing but was split over when it should occur
China holds key lending rates
PBoC keeps one- and five-year LPRs at 3% and 3.5% respectively, as expected
Sino-Egyptian collaboration could reshape global monetary order – expert
MoU provides further evidence of shift towards multipolar world, says professor
Bank of Ghana convenes emergency MPC meeting
Next monetary policy decision to be announced on July 28
Will Fed’s HQ cost overruns be enough for Trump to fire Powell?
Chair’s defenders say administration wants to use renovations bill as pretext for his removal
Central bank watch: Biased to ease, for now
A mid-year review of the monetary policy outlook for G10 central banks, India, China and South Korea
Indonesia eases policy rate after Trump announces 19% tariff
Central bank says 25bp cut was needed to support economy amid weak global outlook
The battle for the future of central banks
Inflation-targeting institutions must not simply defend against overt interference, they must also resist a sly erosion of their authority, writes Biagio Bossone
Tobias Adrian on the integrated policy framework amid tariff shocks
The IMF’s financial counsellor speaks about policy reaction functions to supply and demand shocks, scenario-based analyses, Treasury market dynamics and emerging market resilience
Splits on FOMC are no bad thing, say experts
Former policy-makers say economic uncertainty means dissent over US rates path is inevitable
South Korea holds policy rate at 2.5%
Central bank says it needs more time to assess changes to household debt and house prices
Negative interest rates are last resort – BdF governor
Villeroy de Galhau outlines “order of operations” for deploying monetary policy tools
Malaysia cuts policy rate after more than a year of holding
Quarter-point reduction to 2.75% is BNM’s first cut in five years
New Zealand ends easing cycle with rate hold
Decision to keep policy rate at 3.25% after six consecutive cuts had been expected by economists
Australia surprises observers by holding rates
Board keeps policy rate at 3.85% in split vote, citing higher-than-expected inflation
BoE’s MPC should publish individual rate forecasts – Taylor
Newest committee member discusses r* and calls for greater transparency around forward guidance
More adjustment needed to JGB purchases – BoJ board member
Takata says current plan will increase supply to early 2000s levels, with potentially destabilising effects
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
Economists denounce Trump’s ‘bullying’ of Fed chair
Experts also back Powell’s assessment rates would probably be lower were it not for tariffs