Interest rates
Markets bet on cuts when Trump threatens Powell – research
Economists link attacks on Fed independence with expectations of policy easing
Russia cuts rates by 200bp, citing moderation in inflation
Experts say central bank waited until expectations had moderated and cut may support country’s lenders
Turkey cuts for first time since March’s political turmoil
CBRT reduces rates by 300bp to 43% and vows to maintain “tight” policy stance
New Zealand expects continued easing amid trade uncertainties
RBNZ chief economist says tariff uncertainty likely to slow inflation and growth
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
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
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
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
Australia surprises observers by holding rates
Board keeps policy rate at 3.85% in split vote, citing higher-than-expected inflation
Fed succession planning: will Trump stick to the script?
The race to succeed Jerome Powell as head of the world’s most powerful central bank has already begun
Boris Vujčić on Croatia’s economic journey, the digital euro and the Governing Council
The Croatian National Bank (HNB) governor speaks with Christopher Jeffery about managing financial risks, the pros and cons of euro adoption, payment system reform and the use of real-time data
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
Book notes: Our dollar, your problem, by Kenneth Rogoff
An excellent overview of the evolution of the world economy during the last seven decades, and a warning against complacency
Turkey stresses vigilance amid progress in disinflation
Central bank emphasises firm monetary stance despite cooling inflation
Banxico makes fourth straight 50bp cut
Inflation edges up but growth still sluggish; central bank opens door to slower easing
RBA research finds monetary easing can reduce inequality
Reserve Bank of Australia study finds impact of economic shocks dampened after accounting for household income
Policy to remain restrictive for now, says BoE governor
Bailey says there will be “gradual and careful approach” to any further easing
Hedge funds scale back steepener positions as risks rise
Uncertainties around US Treasury issuance and timing of Fed rate cuts see investors trim ‘consensus’ trade
Paraguay maintains policy rate at 6%
Central bank delivers 15th consecutive hold as inflation trends towards new 3.5% target
Thailand holds rates as trade talks with US continue
Central bank says tariffs are among reasons for projected economic slowdown in 2025