Tariffs
Rates should stimulate economy in response to tariffs – study
Optimal monetary policy promotes employment and income, Minneapolis Fed paper argues
‘Trump slump’ hedges rise on rate cut fears
One dealer notes five-fold increase in number of clients hedging against possibility of faster easing
US tariffs will create persistent inflationary pressures – study
Dallas Fed paper say trade costs raise price levels sustainably above US central bank’s target
European Central Bank continues easing with 25bp cut
Revised forecast points to stunted growth, as Lagarde says bank is operating in “high uncertainty”
‘No strategy’ in US tariffs, says Mexican economist
Measures ignore “triangular” trade relationship between US, China and Mexico
Atlanta Fed’s GDP estimate takes a nosedive
Bank projects more severe contraction in Q1, while analysts point to possible recession
US tariffs could have larger-than-expected impact – study
Author suggests trade statistics are being misreported
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
Tariffs will induce structural change in Canada – Macklem
Increased trade frictions with US will hurt country’s economy but represent “new reality”, says governor
Mexico’s central bank halves growth forecast for 2025
Tariffs not incorporated in prediction model, but Banxico expects uncertainty to dampen investment
Trump’s tariff threats stress London gold market
Banks scrambling to get enough gold to fund customer positions, with BoE the first port of call
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
Fed governors differ on best way to deal with Trump uncertainty
Waller says monetary policy can’t be “put on hold”, but Bowman calls for wait-and-see approach
Central bankers from Americas respond to Trump’s tariff shock
Canadian, Mexican, Colombian and Fed governors speak of post-Covid realities at BIS conference
Mexico accelerates easing with 50bp cut
Board members, unfazed by uncertainty in US, speed up loosening as inflation slows
Eurozone ‘not in a recession at all’ – Cipollone
ECB vice-president says there is “room to cut”, digital euro work continues and bitcoin is not gold
Colombia unexpectedly holds policy rate
Central bank pauses easing cycle as minimum wage hike complicates inflation dynamics
Fed holds rates amid pressure from White House
Powell says he has had no contact with Trump since president said he would “demand” easing of policy
Bank of Canada cuts rates and ends quantitative tightening
Macklem says monetary policy cannot offset negative effects of tariffs
Trump’s tariff threats fuel corporate FX hedging revamp
Treasurers mull options and longer-dated hedges in face of mixed signals on extent and timing of measures
BoJ raises policy rate to highest level since 2008
Policy-makers raise inflation forecasts and signal further rate rises