Central Banks
Monetary policy decisions, interest rate changes, and central bank communications worldwide.
Bank of Ghana Holds Monetary Policy Rate at 29.00% as Inflation Remains Elevated
The Bank of Ghana held its monetary policy rate at 29.00% in July 2024, citing upside risks to the inflation outlook even as headline inflation eased to 22.8% in June.
Central Bank of the Republic of Türkiye Holds Repo Rate at 50.00% for Fourth Consecutive Meeting
The CBRT kept its one-week repo rate at 50.00% for a fourth straight meeting citing the lagged effects of monetary tightening, as June inflation eased to 71.6% from 75.45% in May.
Bank of Canada Cuts Overnight Rate to 4.50% in Second Consecutive 25 Basis-Point Reduction
The Bank of Canada cut its overnight rate by 25 basis points to 4.50% on 24 July 2024, its second consecutive reduction, citing progress on inflation and a softening labour market.
People's Bank of China Cuts LPR Rates and Reverse Repo Rate to Bolster Economy
The PBoC cut its 1-year LPR to 3.35%, its 5-year LPR to 3.85%, and its 7-day reverse repo rate to 1.7% on 22 July 2024 to support economic growth.
Central Bank of Egypt holds overnight rates at 27.25% and 28.25% at July 2024 MPC meeting
The CBE kept all four policy rates unchanged on 18 July 2024, citing easing inflation, and said it expected inflation to decline significantly in the first half of 2025.
South African Reserve Bank Holds Repo Rate at 8.25% Amid Easing Inflation
The SARB kept its repo rate at 8.25% at its July 2024 MPC meeting, noting that inflation had eased to 5.1% while maintaining a cautious policy stance.
European Central Bank Holds Rates Steady in July 2024 After June Cut
The ECB kept its deposit facility rate at 3.75% on 18 July 2024, maintaining a data-dependent stance and offering no explicit guidance on its September decision.
Japan Conducts Second Major Yen Intervention, Deploying an Estimated $22 Billion
Japanese authorities spent an estimated $22 billion intervening in currency markets around 11 July 2024, pushing the yen back from above 161 per dollar to around 157.
Argentina's BCRA Closes Passive Repo Window to Eliminate Quasi-Fiscal Deficit
Argentina's central bank will close its passive repurchase window from 22 July 2024, removing the endogenous money creation driven by its quasi-fiscal deficit.
Bangko Sentral ng Pilipinas Holds Overnight Rate at 6.50% Amid Global Easing Trend
The Bangko Sentral ng Pilipinas held its overnight reverse repo rate at 6.50% in June 2024, maintaining a tight stance as Philippine CPI stood at 3.9% year-on-year.
Bank Al-Maghrib Cuts Morocco's Key Rate by 25 Basis Points to 2.75%
Bank Al-Maghrib cut its benchmark rate by 25 basis points to 2.75% on 25 June 2024 as inflation returned to low levels after averaging 6.1% in 2023.
Bank of England Holds Bank Rate at 5.25% in Seven-to-Two Vote Ahead of UK General Election
The Bank of England held its policy rate at 5.25% in a 7-2 vote on 20 June 2024, with two members dissenting for a cut as UK CPI hit the 2% target in May.