Central Banks
Monetary policy decisions, interest rate changes, and central bank communications worldwide.
Brazil's Copom Raises Selic Rate to 14.75% as Tightening Cycle Slows
Brazil's monetary policy committee raised the Selic rate by 50 basis points to 14.75%, slowing from the prior 100bp pace and signalling the tightening cycle was at an advanced stage.
Federal Reserve Holds Rate at 4.25–4.50% as Tariff-Driven Stagflation Risk Mounts
The FOMC voted unanimously 12-0 to hold the federal funds rate at 4.25–4.50%, with Chair Powell warning tariffs risk pushing both unemployment and inflation higher.
People's Bank of China Cuts RRR by 50bps and Policy Rate by 10bps, Injecting CNY 1 Trillion to Counter Trade Headwinds
The PBOC announced a 50 basis point reserve requirement ratio cut and a 10bps policy rate reduction, injecting approximately CNY 1 trillion in liquidity amid US tariff pressure.
Czech National Bank Cuts 2W Repo Rate to 3.50% and Signals Caution on Further Easing
The CNB Bank Board lowered its two-week repo rate to 3.50% effective 9 May 2025, with the discount rate at 2.50% and Lombard rate at 4.50%.
Bank of Japan Holds Rate at 0.5% for Second Consecutive Meeting Amid US Tariff Risks
The Bank of Japan kept its policy rate at 0.5% in May 2025, pausing its hiking cycle for a second straight meeting as US tariffs clouded Japan's export and growth outlook.
ECB Cuts Deposit Rate to 2.25% as US Tariff Shock Raises Eurozone Downside Risks
The ECB trimmed its deposit rate by 25 basis points to 2.25% on 17 April, citing US trade policy as a source of material downside risk to the eurozone growth outlook.
Central Bank of Egypt Cuts Key Rates by 225 Basis Points at April 2025 MPC Meeting, Beginning Easing Cycle
The Central Bank of Egypt cut its key policy rates by 225 basis points at the April 17 MPC meeting, launching an easing cycle as inflation fell from its September 2023 peak of about 38%.
Turkey’s central bank raises policy rate to 46% in April 2025
The CBRT raised its one-week repo rate by 350 bp to 46% on 17 April 2025 and lifted the overnight lending rate to 49%.
Bank of Canada Holds Overnight Rate at 2.75% as Governing Council Weighs US Tariff Scenarios
The Bank of Canada kept its policy rate at 2.75% in April 2025 as the Governing Council paused to assess the economic impact of two possible US tariff scenarios set out in its Monetary Policy Report.
Argentina's Banco Central Moves to Floating Exchange Rate Regime and Lifts Capital Controls Under IMF Deal
Argentina established a managed exchange rate band of ARS 1,000–1,400 per US dollar and substantially lifted long-standing currency restrictions as part of a new IMF Extended Fund Facility.
Bangko Sentral ng Pilipinas Cuts Benchmark Rate to 5.50% in First Cut of 2025
The BSP reduced its target reverse repurchase rate by 25 basis points to 5.50%, its first cut of 2025 after a pause in February, with inflation having slowed to 1.8% in March, below the 2–4% target.
Reserve Bank of India Cuts Repo Rate to 6.0% and Shifts Stance to Accommodative Amid US Tariff Headwinds
The RBI cut its repo rate by 25 basis points to 6.0% and adopted an accommodative stance, signalling further easing as India confronts a 26% US tariff on its exports.