Monetary policy
Pakistan pauses easing cycle after six consecutive rate cuts
Central bank says high core inflation could still drive up overall price levels, despite fall in headline figure
Tighter policy in 2021 would have had ill effects – NY Fed study
Authors argue inflation would have fallen only modestly while global demand would have suffered
Bank of Israel holds rates ahead of budget approval
Decision follows rise in inflation, driven by tax rises to fund ongoing military operations
Egypt holds rates at 27.25%
Central bank projects gradual decline in inflation, but points to upside risks from US tariffs
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
ECB board members express regret over QE stimulus
Cipollone says unwinding balance sheet thwarts rate cuts, while Schnabel wants “less activist” bank
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
China to focus more on consumption, says PBoC governor
Pan Gongsheng wants domestic demand to be “key driver of growth”
Bank of Russia holds rates
Inflation ticks up as central bank updates forecast again
Rwanda holds rates at 6.5%
Central bank expects inflation to remain within target
Powell: ‘We’re close, but not there yet on inflation’
Fed chair also addresses bank independence, climate risk and CBDCs during testimony before Congress
Zambia raises rates amid persistently high inflation
Central bank does not expect 6–8% target to be reached until at least 2027
European politicians clash over ECB review, climate, digital euro
Report on bank’s performance critiques climate mandate, loss of purchasing power
Bigger rate cut would have sent clearer signal, says BoE dissenter
MPC member says UK’s economic outlook would have justified 50bp reduction
Central bankers from Americas respond to Trump’s tariff shock
Canadian, Mexican, Colombian and Fed governors speak of post-Covid realities at BIS conference
RBI eases policy by 25bp as part of efforts to spur growth
Bank makes first rate cut for nearly five years, despite inflation being above target
CNB cuts rates by 25bp as it revises growth forecast
Bank points to sticky service and food inflation, reduced demand for exports
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
Bank of England cuts policy rate by 25bp
Impact of US tariffs on UK monetary policy remains unclear, MPC says