Monetary policy
European Central Bank pauses rate-cutting campaign
ECB considers strengthening eurozone economy to be “crucial” in face of geopolitical challenges
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
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
Thailand names Vitai Ratanakorn as central bank governor
Cabinet picks state-owned lender’s CEO to take over from Sethaput Suthiwartnarueput on October 1
BoE publishes SVAR model in response to Bernanke review
Flexible model designed to provide “structural narrative” to understand forecast revisions
Wholesale bank funding boosts policy transmission – paper
NBER study highlights trade-offs between reducing systemic risk and facilitating credit flow
China holds key lending rates
PBoC keeps one- and five-year LPRs at 3% and 3.5% respectively, as expected
Judy Shelton on gold, tariffs and where the Fed went wrong
The potential successor to Jerome Powell discusses why she thinks the Fed is too powerful, why her stance on gold is not a ‘crank’ position, and why she feels events have vindicated her and president Trump on the need for rate cuts
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
New Zealand’s ageing population may drive down rates – study
RBNZ research says “grey wave” may make it harder to stimulate economy with cuts
Hong Kong’s FX interventions came at right time, say economists
Experts believe the resulting fall in interest rates has provided welcome stimulus
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
Botswana increases pula crawl rate to defend reserves
Central bank will also charge lenders higher margins to access FX
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
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