Interest rates
Norges Bank says time is not yet right for easing
Central bank holds rates, but suggests cut is likely in March
Bank Negara Malaysia holds policy rate
Central bank has left key rate unchanged for 20 months against backdrop of strong growth
PBoC holds key lending rates
Move comes after China hit 5% growth target for 2024, but analysts expect further easing this year
Bank of Korea unexpectedly holds policy rate amid political turmoil
Central bank cites need to assess political developments and incoming US administration’s policies
The UK is not suffering another Truss shock
The increase in gilt yields is a long way from the turmoil of 2022, writes Jagjit Chadha. But it does highlight flaws in the use of fiscal rules
Banxico board uncertain on pace of easing, minutes reveal
Members had differing views on inflation dynamics and effects of tariffs in December meeting
Fed board members pledge caution in cutting rates
Governors say unemployment and inflation risks are roughly in balance
Bank of Uganda to make rate decisions quarterly
Central bank lowers frequency of policy meetings from six times a year
PBoC vows to cut reserve requirements and interest rates
Officials pledge to keep monetary policy “moderately loose” and support capital markets
Refinancing at higher rates might not cut consumption – BoE paper
Homeowners’ ability to modify loan terms could weaken monetary policy transmission, study finds
Madagascar’s governor on targeting M3 over inflation
Central Bank of Madagascar head Aivo Andrianarivelo speaks about introducing an interest rate corridor, diversifying from dollars to gold, using instant payments to bolster inclusion and drawing on IMF sustainability funding
Unfunded fiscal spending leads to lower real rates – research
Deglobalisation could limit ability of monetary policy to control inflation, says author
Colombia surprises markets and slows easing cycle
Quarter point cut a “strong message” of independence by central bank, analysts say
Mexico continues easing with quarter-point cut
Analysts think larger reduction is plausible but central bank stays cautious
Central Bank of the Philippines cuts policy rate by 25bp
Third reduction in a row follows Fed’s quarter-point cut
BoJ holds rates, completes broad monetary policy review
Governor admits bank has been slow to raise rates, but highlights need to assess wage data and US policy
Sweden makes further cuts, but Norway continues to hold
Riksbank reduces rates by 25bp, but Norges Bank maintains more hawkish approach
BoE holds rates as UK inflation hits eight-month high
Decision closer than expected as members unsure about implications of government budget
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
The Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, building new models and ending interest payments on minimum reserves
Federal Reserve cuts rates by 25bp
Powell says effects of Trump’s proposed policies, including tariffs, remain unclear
Bank Indonesia holds rates after HQ raided over graft probe
Benchmark rate stays at 6% two days after offices searched over alleged misuse of CSR funds
The BoJ’s path to policy normalisation
Will the Bank of Japan be able to normalise monetary policy following its successful exit from negative rates?
BoK vows to stabilise markets with ‘all available tools’
Central bank calls for bipartisan policy co-ordination following president’s impeachment
Peru holds policy rate at 5%
Central bank stays put as inflation accelerates and rate almost reaches same level as the Fed’s