Central Banks
Monetary policy decisions, interest rate changes, and central bank communications worldwide.
Bank Al-Maghrib Cuts Key Rate by 25 Basis Points to 2.50% in Second 2024 Easing Move
Morocco's Bank Al-Maghrib reduced its key rate to 2.50% in December 2024, bringing cumulative easing in the year to 50 basis points as inflation was expected to average 1% in 2024.
Bank of England Holds Bank Rate at 4.75% in December 2024 as Services Inflation Remains Elevated
The Bank of England held its Bank Rate at 4.75% in a 6-3 vote at its final 2024 meeting, citing stubborn services inflation running at 5.0%.
Bank of Japan Holds Policy Rate at 0.25% in December 2024, Seeking Further Wage Data
The Bank of Japan kept its policy rate at 0.25% in December 2024, pausing after July's hike as overseas uncertainty and the need for more wage data delayed the next move.
Bangko Sentral ng Pilipinas Cuts Overnight Reverse Repo Rate by 25 Basis Points to 5.75%
The Bangko Sentral ng Pilipinas reduced its overnight reverse repo rate by 25 basis points to 5.75%, completing its third rate cut of the 2024 easing cycle.
Central Bank of Oman Cuts Repo Rate by 25 Basis Points in December 2024, Tracking Federal Reserve
The Central Bank of Oman reduced its repo rate by 25 basis points in December 2024, following the US Federal Reserve in line with the rial's peg to the US dollar.
Saudi Central Bank Cuts Repo Rate by 25 Basis Points to 5.00% in December 2024
SAMA reduced its repo rate to 5.00%, following the US Federal Reserve's December 2024 cut and bringing total 2024 easing to 100 basis points.
Central Bank of the UAE Cuts Base Rate by 25 Basis Points to 4.40% Following Fed's December 2024 Move
The CBUAE lowered its base rate to 4.40% on 18 December 2024, tracking the US Federal Reserve's December 2024 rate cut under the UAE's dollar peg.
Federal Reserve Cuts Rates 25 Basis Points to 4.25–4.50% in Third Consecutive Cut
The FOMC lowered the federal funds rate target to 4.25–4.50% in an 11-1 vote, completing 100 basis points of cumulative cuts since September 2024 as inflation remains above target.
ECB Cuts Deposit Rate to 3.00% in Fourth Reduction of 2024 and Signals Further Easing in 2025
The ECB cut its deposit facility rate by 25bp to 3.00% — its fourth reduction of 2024 — and dropped language about keeping rates restrictive, signalling continued easing into 2025.
Swiss National Bank Cuts Policy Rate by 50 Basis Points to 0.50% in Largest Reduction in Nearly a Decade
The SNB made a 50bp cut to 0.50% — its biggest single reduction in nearly ten years — with Swiss inflation at 0.7%.
Banco Central do Brasil Raises Selic Rate by 100 Basis Points to 12.25%
Brazil's Copom raised the Selic rate by 100 basis points to 12.25% and guided for two further hikes of the same magnitude, citing currency weakness and fiscal deterioration.
Bank of Canada Cuts Overnight Rate by 50 Basis Points to 3.25%, Completing 175 bp of 2024 Easing
The Bank of Canada has cut its overnight rate by 50 basis points to 3.25%, its fifth cut of 2024 and a cumulative 175 basis points of easing over the year, citing excess supply and softer growth.