Central Banks
Monetary policy decisions, interest rate changes, and central bank communications worldwide.
Federal Reserve Chair Powell Signals Imminent Rate Cuts at Jackson Hole Symposium
Fed Chair Jerome Powell declared at Jackson Hole that 'the time has come for policy to adjust', ahead of the September FOMC meeting.
Sveriges Riksbank Cuts Policy Rate to 3.50% in Second Cut of 2024
Sweden's Riksbank cut its policy rate by 25 basis points to 3.50%, its second cut of the year, as the Swedish economy remained weak.
Bangko Sentral ng Pilipinas Cuts Overnight Rate by 25 Basis Points to 6.25% in First Easing Since 2020
The BSP has cut its overnight reverse repo rate by 25 basis points to 6.25%, its first reduction since November 2020, even though July inflation of 4.4% was above the 2–4% target band.
Bank of Zambia holds monetary policy rate at 13.5% as drought keeps inflation elevated
Zambia's central bank kept its policy rate at 13.5% on 14 August 2024, weighing inflation of 15.4% in July against the drought's impact on growth and financial stability.
Banco de México cuts overnight rate to 10.75% in split vote
Mexico's central bank lowered its benchmark rate by 25 basis points on 8 August 2024, its second cut of the cycle, even as headline inflation rose to 5.57% in July.
Bank of Uganda Cuts Central Bank Rate by 25 Basis Points to 10.00% as Inflation Eases
The Bank of Uganda has lowered its central bank rate by 25 basis points to 10.00%, citing headline inflation averaging 3.2% and the fading impact of past external shocks.
Central Bank of Kenya Cuts Benchmark Rate by 25 Basis Points to 12.75%
The Central Bank of Kenya has reduced its Central Bank Rate by 25 basis points to 12.75%, citing inflation well within target and a stable shilling.
Reserve Bank of Australia Holds Cash Rate at 4.35% Amid Elevated Underlying Inflation
The RBA kept its cash rate on hold at 4.35% in August 2024, with underlying inflation still running at 3.9% and Governor Michele Bullock saying a near-term cut did not align with the Board's thinking.
Bank of England Cuts Bank Rate by 25 Basis Points to 5.00% in Narrow Five-Four MPC Vote
The Bank of England cut Bank Rate to 5.00% in a 5-4 MPC vote on 1 August 2024, the first reduction since March 2020, with Bailey, Breeden, Dhingra, Lombardelli and Ramsden in favour.
Czech National Bank Cuts Two-Week Repo Rate to 4.50% and Signals More Gradual Easing Pace
The CNB cut its two-week repo rate by 25bp to 4.50% at its August 2024 meeting, slowing the pace of easing from the 50bp increments applied at earlier decisions.
Bank of Japan Raises Policy Rate to 0.25% and Sets Plan to Halve JGB Purchases
The Bank of Japan raised its benchmark rate to 0.25%, the highest since 2008, and outlined a quantitative tightening plan to halve monthly JGB purchases by early 2026.
Federal Reserve Holds Rate at 5.25%–5.50% as Powell Signals September Cut Possible
The FOMC unanimously held the federal funds rate at 5.25%–5.50% at its July 2024 meeting, with Chair Powell noting labour market conditions had eased.