Central Banks
Monetary policy decisions, interest rate changes, and central bank communications worldwide.
EBA and ECB Publish 2025 EU-Wide Stress Test Results Showing 370 Basis Point CET1 Depletion
The 2025 EU-wide stress test showed aggregate CET1 capital depletion of €229 billion across 51 institutions, with the ratio falling from 15.76% to 12.06%.
Bank of Japan Holds Policy Rate at 0.50% at July 2025 Meeting
The Bank of Japan kept its benchmark policy rate at 0.50% in July 2025, offering no signal of an imminent hike as it monitored global conditions and yen dynamics.
Monetary Authority of Singapore Holds S$NEER Policy Band Unchanged in July 2025
Singapore's MAS held its exchange-rate policy band steady in July 2025, flagging a slowdown in GDP growth in the second half of the year.
Federal Reserve Holds Rate at 4.25–4.50% in July 2025 with Two Dissents Favouring Immediate Cut
The FOMC voted 9–2 to hold the federal funds rate at 4.25–4.50%, with Governors Bowman and Waller dissenting in favour of a 25 basis-point cut.
Bank of Canada Holds Overnight Rate at 2.75% in July 2025 Amid Sustained Tariff Uncertainty
The Bank of Canada kept its policy rate at 2.75%, citing broadly balanced economic conditions but continued uncertainty over the impact of trade tariffs.
Turkey's Central Bank Resumes Rate Cuts, Lowering Policy Rate to 43.00% in July 2025
The Central Bank of the Republic of Turkey cut its policy rate to 43.00% in July 2025, resuming an easing cycle as Turkish inflation declined from its peak and the lira stabilised.
ECB Holds Deposit Rate at 2.00% in July 2025, Pausing After Eight Consecutive Cuts
The European Central Bank kept its deposit facility rate at 2.00% on 24 July 2025, marking its first pause after eight consecutive reductions since June 2024.
Central Bank of Nigeria Holds Monetary Policy Rate at 27.50% Amid Sustained Disinflation
Nigeria's central bank held its benchmark rate at 27.50% in July 2025, citing five consecutive months of declining inflation that has brought the headline rate to 22.22%.
South African Reserve Bank Cuts Repo Rate by 25 Basis Points to 7.00%
The SARB lowered its repo rate to 7.00% on 17 July 2025, the latest step in an easing cycle that coincides with the bank's move to a 3% point inflation target.
Federal Reserve and US Banking Agencies Clarify Expectations for Bank Crypto-Asset Safekeeping
US banking regulators issued a joint statement on 14 July 2025 clarifying that banks may provide crypto-asset custody services subject to appropriate risk management.
Bank Negara Malaysia Cuts Overnight Policy Rate to 2.75% in First Reduction Since July 2020
Bank Negara Malaysia reduced its overnight policy rate by 25 basis points to 2.75% in July 2025, the first cut in five years, in a pre-emptive move against global trade headwinds.
Reserve Bank of New Zealand Cuts OCR to 3.00%, Reaching Estimated Neutral Territory
The RBNZ lowered its Official Cash Rate by 25 basis points to 3.00% in July 2025, reaching what it estimates to be the neutral interest rate as it slows the easing pace.