Interest rates
Romania opts to hold, citing domestic and global uncertainty
Central bank cites fluctuating commodity prices, tariff risks and volatility resulting from national politics
Rate hikes have created debt-servicing difficulties – ECB study
Research also points to overall robustness in eurozone’s household lending sector
Peru cuts by 25bp in surprise move
Policy rate now approaching level “estimated as neutral”, central bank says
BoE governor gives optimistic forecast about scenario approach
Bailey says new method allows for better projections, given growing frequency of ‘black swans’
Brazil hikes rates again as inflation still above target
BCB tightens by 50bp to 14.75% and leaves next decision open
Fed holds rates as experts sound alarm over stagflation
FOMC says risks have risen on both the employment and inflation sides of its mandate
PBoC cuts rates and lowers reserve requirement ratios
China delivers major round of stimulus measures before opening trade talks with US
FOMC vote rotation ‘distorts’ rates – NBER paper
Regional Fed presidents make decisions based on local conditions, research finds
Time to worry about Japanese debt?
The transition to positive rates means Japan may need to re-examine its huge public debt burden, argues Sayuri Shirai
Natural interest rate driven by productivity growth – research
Population increase also plays important role in determining metric, RBNZ paper finds
Yen rates losses from tariff drama top $1 billion
Losses came from forced unwinds of bets on BoJ rate rises
Bank of Korea holds rates at 2.75%
Growth sluggish and inflation on target but central bank needs more time to judge tariff effects
Fed ‘absolutely’ prepared to stabilise markets, says Collins
Head of Boston Fed says bank ready to deploy tools as and when they are needed
Philippines resumes easing cycle with quarter-point cut
Inflation slows but growth risks increase amid “more challenging” external environment, BSP says
Reserve Bank of India cuts benchmark rate to 6%
RBI hails fall in food inflation, but revises growth forecast down because of US tariffs
Kenya cuts benchmark rate to 10%
Central bank says easing necessary to boost lending to private sector and stimulate growth
New Zealand makes rate cut in response to tariffs
RBNZ eases policy by 25bp and points to trade war’s downside risks to growth
Do Trump/Doge materially threaten the Federal Reserve?
Experts weigh in on the danger levels for the US central bank, including whether it is overstaffed
Colombia holds rates amid government pressure for cuts
Banrep board divided after three new members join; country’s president says decision “unacceptable”
Hungary holds rates amid continuing upside risks to inflation
MNB points to geopolitical and trade uncertainty in explaining first policy decision under new governor
Borrower-lender ties key in policy transmission – BoE research
Stronger ties between banks and firms leads to weaker pass-through in low-rate environment, study finds
PBoC tweaks lending facility as framework reform continues
Chinese central bank phases out MLF’s role in monetary policy by allowing dynamic pricing
BIS paper links long-term rates decline to FOMC meetings
Study finds 70% of drop in rates in G10 countries is due to market moves close to Fed meetings
China holds loan prime rates again
PBoC stays put while government works to boost consumption