Monetary policy
Czech National Bank cuts rates by 50 basis points
Next step likely to be a 25bp cut or a halt to easing, says central bank
Turkey holds interest rate amid rising inflation
Disinflation will start in the second half of the year, CBRT says
Nearly 40% of central banks use targeted liquidity facilities
“Funding for lending” schemes remain widespread, though some have been wound down post-Covid
Philippine central bank holds rates and cuts inflation forecast
BSP governor signals possible August rate but refuses to comment on board member allegations
Half of central banks regularly review monetary framework
Vast majority conduct reviews but many are ad hoc
Morocco cuts interest rates after a year of holding
Inflation now below 1% due to lower food prices and tighter monetary policy
Most asset purchase programmes are winding down
Around a quarter of respondents have open APPs but most are shrinking
Monetary policy-makers should track bubbles – Dallas Fed paper
Economists warn of possible ‘explosive bubbles’ and evaporating wealth
IMF releases $1.1bn to Bangladesh
Fund calls for tight policy to bring down inflation
BIS predicts AI will be inflationary in long term
Expects accelerated inflation dynamics as firms adjust prices in response to shocks
Over 25% of central banks pre-brief government on policy decisions
Briefing patterns differ across institutions, as two central banks start practice
Laotian central bank raises rates amid high inflation
Inflation in Laos has been above 20% due to weak local currency
One-third of central banks offer liquidity to non-banks
But most keep the list of counterparties strictly limited
Brazilian politicians launch legal action against Campos Neto
Allies of president escalate pressure on central bank as policy-makers opt to hold rates
SNB cuts rates by 25 basis points
Decrease prompted by sub-1% inflation forecast
SNB carries out first tokenised monetary policy operation
Central bank issued $72 million in bonds on DLT settled in wholesale CBDC
Bank of England holds rates as services inflation lingers
“We need to be sure that inflation will stay low,” governor Andrew Bailey says
Bank Indonesia holds policy rate despite rupiah weakness
Governor Perry Warjiyo vows further intervention to support the currency
PBoC holds key lending rates
Market-based lending rates remain unchanged as economic data remains mixed
PBoC overhauls monetary policy framework
Central bank aims for clearer policy rate, bigger role for bond trading and use of “structural” tools
UK inflation touches BoE’s target
Alignment with goal expected to be short lived but opens door to rate cuts later in year
Armenia receives support from IMF as inflation turns positive
Central bank carries out ninth consecutive cut but says inflationary pressures remain low
RBA holds rates as inflation stays above target
Australian governor says rate-setters did not discuss a cut and forecasts rising real incomes
PBoC holds key rate for tenth consecutive month
May data shows continued property downturn and improvement in retail sales and industrial production