Monetary policy decisions
Colombia’s unexpected rate hold draws fire from president
Policy maintained at 9.25% could mean fewer or no rate cuts in upcoming meetings, analysts say
Brazil holds rates amid tariff threats and Trump-Lula feud
Potential 50% levies from US reinforce “cautious stance”, BCB says
Ghana’s 300bp rate cut is largest in its history
Governor signals further easing as inflation cools to lowest level since 2021
BoJ holds policy and ups inflation expectations
Japan’s central bank says growth likely to slow then pick up again after tariffs’ effects diminish
Singapore maintains policy after two periods of easing
MAS says Q2 growth stronger than expected but trade likely to slow in second half of 2025
Kyrgyzstan tightens policy for first time in more than a year
Central bank raises rates by 25bp to keep inflation in check amid tariff uncertainties
European Central Bank pauses rate-cutting campaign
ECB considers strengthening eurozone economy to be “crucial” in face of geopolitical challenges
Turkey cuts for first time since March’s political turmoil
CBRT reduces rates by 300bp to 43% and vows to maintain “tight” policy stance
Sri Lanka holds rate as US tariffs loom
Central bank keeps policy rate at 7.75% amid domestic economic and global trade uncertainties
Hungary holds rates for 10th consecutive time
Economy continues to stagnate despite rising household lending
China holds key lending rates
PBoC keeps one- and five-year LPRs at 3% and 3.5% respectively, as expected
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
Banxico makes fourth straight 50bp cut
Inflation edges up but growth still sluggish; central bank opens door to slower easing
Czech central bank holds rates in unanimous decision
CNB takes wait-and-see approach despite strong economic growth
Hungary holds rates as economic outlook nosedives
MNB’s annual growth forecasts are significantly lower than the government’s
Paraguay maintains policy rate at 6%
Central bank delivers 15th consecutive hold as inflation trends towards new 3.5% target
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
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 Mexico puts growth before prices with rate cut
Economists say decision reflects concerns about possible tariff-induced recession
Bank of Canada holds rates
Governor stresses difficulty in being forward looking amid current uncertainty over US tariffs