Central Banks
Monetary policy decisions, interest rate changes, and central bank communications worldwide.
Federal Reserve Holds Rate at 4.25–4.50% and Slows Treasury Runoff Amid Tariff Uncertainty
The FOMC held the federal funds rate at 4.25–4.50% in an 11-1 vote and cut its monthly Treasury runoff cap from $25bn to $5bn starting April, in what Chair Powell called a technical decision.
Bank Al-Maghrib cuts Morocco's key rate by 25 basis points to 2.25%
Morocco's central bank lowered its benchmark rate on 18 March 2025 in its second consecutive reduction, after inflation averaged 0.9% in 2024, and forecast inflation of around 2% over the next two years.
Bank of Canada Cuts Overnight Rate by 25 Basis Points to 2.75% Amid US Tariff Uncertainty
The Bank of Canada lowered its overnight rate to 2.75%, the seventh consecutive cut since June 2024, citing trade uncertainty from US tariffs as the key risk to the outlook.
ECB Cuts Deposit Rate to 2.50% in Sixth Cut Since June 2024, Signals Less Restrictive Stance
The ECB cut its deposit facility rate by 25bps to 2.50% on 6 March 2025, its sixth reduction since June 2024, signalling monetary policy was becoming meaningfully less restrictive.
Turkey's Central Bank Cuts Benchmark Rate to 42.5% as Inflation Eases Further
The CBRT lowered its one-week repo rate by 250 basis points to 42.5%, marking a cumulative 500bps of cuts since January 2025 as annual CPI trends below the policy rate.
BCEAO holds West Africa key rate at 3.50% at March 2025 meeting
The central bank of the eight-nation West African monetary union kept its main policy rate unchanged on 5 March 2025, citing strong growth and easing inflation while warning that risks to prices remained high.
Bank of Thailand Cuts Policy Rate to 2.00% in 6–1 Vote, Signals Move Is Not Start of Easing Cycle
Thailand's central bank cut its benchmark rate by 25 basis points to 2.00% in a 6–1 vote, citing a slower growth outlook and rising downside risks, while stressing the move is not the start of an easing cycle.
Bank of Korea Cuts Policy Rate to 2.75% in Third Reduction Since October 2024 Amid Growth Concerns
The Bank of Korea unanimously cut its benchmark rate by 25 basis points to 2.75%, its third reduction since October 2024, as GDP forecasts were lowered on weak domestic demand.
Central Bank of Nigeria Holds Monetary Policy Rate at 27.50% in First Pause After 2024 Hikes
The Central Bank of Nigeria held its benchmark rate at 27.50%, citing stability in the foreign exchange market and moderating petrol prices, while remaining cautious about persistent food-driven inflation.
Reserve Bank of Australia Cuts Cash Rate to 4.10% in First Reduction Since 2020
The RBA cut its cash rate target by 25 basis points to 4.10% in February 2025, its first rate reduction in four years, citing continued progress in bringing inflation to target.
Bank of Zambia raises monetary policy rate by 50 basis points to 14.5% as drought keeps inflation high
Zambia's central bank lifted its key rate from 14% to curb inflation that reached 16.7% in December and to support the kwacha, as drought-driven food prices pushed up living costs.
Reserve Bank of India Cuts Repo Rate by 25 Basis Points to 6.25% in First Reduction Since 2020
The RBI cut its repo rate by 25 basis points to 6.25% in a unanimous MPC vote, the first rate reduction since May 2020, as CPI inflation eased to 5.22% in December, within its target band.