Tariffs
BoK governor expresses confidence in finance minister
Rhee’s comments follow apparent discord between bank and government over digital assets policy
Trump’s tariffs and the emerging market economies
Steve Kamin says EMEs are likely to escape the worst outcomes from capricious and chaotic trade policy
India holds policy, thus ending easing cycle
Central bank leaves rate at 5.5%, citing lower inflation and continued risks from US tariffs
Vietnam asks lenders to reduce interest rates
Central bank says lower rates are needed to support country’s growth target
Book notes: Inflation, by Mark Blyth and Nicolò Fraccaroli
An accessible explainer about the narratives surrounding inflation – and who it benefits
Brazil holds rates amid tariff threats and Trump-Lula feud
Potential 50% levies from US reinforce “cautious stance”, BCB says
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
BNM cuts growth forecast due to tariff uncertainty
However, Malaysia’s central bank says economy is on “strong footing” amid threat of 25% US levy
New Zealand expects continued easing amid trade uncertainties
RBNZ chief economist says tariff uncertainty likely to slow inflation and growth
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
Bessent floats audit of Fed’s perceived failures
Treasury secretary is latest Trump official to attack central bank, but says chair need not step down
BoC survey finds ‘buy Canadian’ trend amid tariff threats
More than half of respondents plan to spend less on US goods and avoid holidaying below 49th parallel
Tariffs would reduce jobs and real income in US – new study
San Francisco Fed paper says drops in earnings would be unevenly spread
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
MAS expects slower growth in Singapore’s financial sector
Central bank says major impact from tariffs has yet to emerge at release of annual report
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
Economists say rate cuts unlikely to solve China’s deflation woes
CPI grows slightly, but production price index posts largest year-on-year decline since 2023
Brics leaders push for multilateral payments solutions
Central bank governors and finance ministers also call for reform of Bretton Woods institutions
Tariffs worsen monetary policy trade-offs and inflation – study
Fed researchers find evidence of persistence in cost pressures stemming from levies