Central Banks
Monetary policy decisions, interest rate changes, and central bank communications worldwide.
South African Reserve Bank Cuts Repo Rate 25 Basis Points to 8.00%, Starting Easing Phase
The SARB cut South Africa's repo rate by 25 basis points to 8.00% in a unanimous decision on 19 September 2024, its first reduction since July 2020.
Central Bank of the Republic of Türkiye Holds Repo Rate at 50% for Fifth Consecutive Meeting
Turkey's central bank left its one-week repo rate at 50% for the fifth meeting in a row, as annual inflation ran at 52.0% in August and services prices remained elevated.
Bank of England Holds Bank Rate at 5.00% as MPC Seeks More Evidence on Inflation
The Bank of England kept its policy rate at 5.00% in an 8-1 vote, with the MPC saying it needed more evidence on wage growth and services inflation before easing.
Brazil's Banco Central Raises Selic Rate 25 Basis Points to 10.75%, Restarting Tightening
Brazil's Copom unanimously raised the Selic rate by 25 basis points to 10.75% on 18 September 2024, the first hike since August 2022, citing inflation risks.
Central Bank of UAE Cuts Base Rate by 50 Basis Points to 4.90% in First Reduction Since 2020
The CBUAE lowered its base rate from 5.40% to 4.90%, the first cut since the COVID-era reductions of 2020, in direct response to the Federal Reserve's opening move in its new easing cycle.
Central Bank of Bahrain Cuts Key Rate by 50 Basis Points to 5.50%, Tracking Fed Move
The Central Bank of Bahrain cut its key policy rate by 50bps to 5.50%, following the US Federal Reserve's cut.
SAMA Cuts Saudi Repo Rate by 50 Basis Points to 5.50%, Mirroring Federal Reserve
The Saudi Central Bank cut its repo rate by 50bps to 5.50% and its reverse repo rate to 5.00%, directly tracking the Federal Reserve's move given the riyal's fixed dollar peg.
Federal Reserve Cuts US Rate by 50 Basis Points to 4.75%–5.00%, Launching Easing Cycle
The Federal Reserve cut its federal funds rate by 50 basis points to 4.75%–5.00% in an 11-1 vote, marking the first US rate reduction since March 2020.
Bank Indonesia Cuts Policy Rate by 25 Basis Points to 6.00% in First Easing Since 2021
Bank Indonesia lowered its benchmark BI Rate to 6.00% on Wednesday, the first cut since February 2021, in a move made hours before the US Federal Reserve's own cut.
ECB Cuts Deposit Rate to 3.50% in Second Reduction of 2024 as Inflation Nears Target
The ECB cut its deposit facility rate by 25 basis points to 3.50% and narrowed the rate corridor, with President Lagarde stressing a data-dependent, meeting-by-meeting approach.
BCEAO holds key rate at 3.50% as inflation rises
The West African central bank left its main policy rate at 3.50% on 11 September 2024 after inflation in the WAEMU zone rose to 4.1% in the second quarter, above its 1–3% target range.
Bank of Canada Cuts Overnight Rate by 25 Basis Points to 4.25% in Third Consecutive Reduction
The Bank of Canada lowered its overnight rate to 4.25% on 4 September 2024, its third straight 25 bp cut, citing below-potential growth and declining inflation.