Central Banks
Monetary policy decisions, interest rate changes, and central bank communications worldwide.
Swiss National Bank Cuts Policy Rate to 1.25% in Second Consecutive Reduction
The Swiss National Bank cut its policy rate by 25 basis points to 1.25% on 20 June 2024, its second consecutive reduction, and reaffirmed readiness for foreign exchange intervention.
Brazil's Copom Holds Selic Rate at 10.50%, Ending Easing Cycle
Brazil's monetary policy committee voted unanimously to keep the Selic rate at 10.50%, halting an easing cycle that began in August 2023.
Federal Reserve Holds Rate at 5.25–5.50% and Reduces 2024 Cut Projection to One
The Federal Reserve held its policy rate at 5.25–5.50% and cut its median 2024 rate-cut forecast to one move, as US CPI inflation stood at 3.3% year-on-year in May.
People's Bank of China and BCRA Renew Active Tranche of Yuan-Peso Currency Swap to July 2026
The People's Bank of China and Argentina's BCRA have renewed the active tranche of their bilateral currency swap, extending yuan liquidity support for Argentina to July 2026.
Reserve Bank of India holds repo rate at 6.50% for eighth consecutive meeting
The RBI's MPC voted 4-2 on 7 June 2024 to keep the repo rate at 6.50%, stayed focused on withdrawal of accommodation and raised its FY25 growth forecast to 7.2%.
ECB Cuts All Three Key Interest Rates by 25 Basis Points in First Reduction Since 2019
The ECB cut its deposit rate to 3.75%, MRO to 4.25%, and marginal lending to 4.50% on 6 June 2024, the first rate cut since 2019, with only one Governing Council member opposed.
Bank of Canada Cuts Overnight Rate to 4.75% in First Reduction Since March 2020
The Bank of Canada cut its overnight rate by 25 basis points to 4.75%, its first reduction in over four years, citing easing core inflation and progress toward the 2% target.
Central Bank of Egypt holds deposit rate at 27.25% as inflation eases
Egypt's Monetary Policy Committee left its overnight deposit and lending rates unchanged at its 23 May 2024 meeting, as annual headline inflation slowed to 32.5% in April.
Central Bank of Türkiye Holds Repo Rate at 50.00% as Monetary Tightening Transmits Through Economy
Turkey's central bank kept its benchmark repo rate at 50.00% in May 2024, judging that tightening was transmitting through the economy as annual inflation reached 69.8% in April.
Central Bank of Nigeria Raises Monetary Policy Rate to 26.25% in Third Consecutive 2024 Hike
The CBN lifted its benchmark rate by 150 basis points to 26.25%, citing naira weakness and inflation above 33% in its third consecutive hike of 2024.
Bank Negara Malaysia Holds Overnight Policy Rate at 3.00% in May 2024
Bank Negara Malaysia held its overnight policy rate at 3.00% in May 2024, noting that headline inflation averaged 1.7% in the first quarter and that economic activity picked up in the first quarter.
Brazil's Copom cuts Selic to 10.50% in 5-4 vote as minority backs larger cut
Brazil's central bank slowed the pace of easing to 25 basis points, with four members voting for a 50bp reduction, and dropped its signal on the size of the next move.