Interest rates
Hungary holds rates amid continuing upside risks to inflation
MNB points to geopolitical and trade uncertainty in explaining first policy decision under new governor
China holds loan prime rates again
PBoC stays put while government works to boost consumption
Brazil delivers another 100bp hike
BCB’s battle against inflation continues as government announces more fiscally expansionary measures
FOMC holds rates amid uncertainty and stagflation risks
Fed chair Jay Powell says inertia also a factor as committee opts for caution
Indonesia holds rates after stock market rout
BI opts to defend exchange rate as country records deflation for first time in 25 years
Morocco cuts rates to 2.25%
Central bank expects inflation to be near 2% over next two years
Bank of Japan holds rates amid trade uncertainty
Strong wage growth underpins economic recovery but central bank remains wary of US tariffs
US dollar dominance: beyond the ‘exorbitant privilege’
Biagio Bossone argues that dollar ‘seigniorage’ extends into the very structure of global finance and its ‘exorbitant privilege’ is worth up to $804 billion annually
Peru holds policy rate at 4.75%
BCRP stays put as inflation and growth continue to move in right direction
‘Trump slump’ hedges rise on rate cut fears
One dealer notes five-fold increase in number of clients hedging against possibility of faster easing
Bank of Israel responds to criticism over high rates
Chair of parliamentary committee had blamed tight policy for lenders’ excess profits
BIS paper explains monetary policy’s impact on long-run rates
Authors say “forgiving” economy allows central bankers to set policy without clear view of r*
The interest rate dilemma in an uncertain world: a balancing act
Biagio Bossone makes the case for a holistic policy approach that includes extending IT tolerance bands, smart fiscal policies, supply-side reform and financial safeguards
Consumption by rich fell sharply post-tightening – CBRT study
Research by Turkey’s central bank finds rate hikes caused wealthy to spend less and save more
Thailand unexpectedly cuts rates as growth poised to slow
Domestic manufacturing sector faces “intense competition” from abroad, BoT says
Bank of Korea resumes easing and lowers GDP forecast
Cut of 25bp aimed at boosting economy as country grapples with US tariffs and domestic political drama
Upside risks from Trump tariffs prompted Fed to hold rates
FOMC minutes show that January’s decision was partly informed by potential changes in US trade policy
China holds loan prime rates
PBoC stays put again as yuan strengthens after Trump signals potential trade talks with Xi
Bank Indonesia holds rates at 5.75%
Central bank faces dilemma of whether to prioritise bolstering growth or propping up currency
New Zealand continues easing cycle with 50bp cut
Trade concerns take centre stage as RBNZ delivers fourth consecutive reduction