Central Banks
Monetary policy decisions, interest rate changes, and central bank communications worldwide.
Federal Reserve Holds US Rate at 5.25–5.50%, Maintains Projection of Three Cuts in 2024
The FOMC voted unanimously to keep rates unchanged and its latest projections still pointed to three quarter-point reductions before year-end.
Reserve Bank of Australia Holds Cash Rate at 4.35% Under New Eight-Meeting Annual Schedule
The RBA kept its cash rate at 4.35% at its second meeting under a new eight-meeting annual schedule, citing a still-tight labour market.
Bank of Japan Ends Negative Rates in First Hike Since 2007, Scraps Yield Curve Control
The Policy Board raised the short-term policy rate to a range of 0 to 0.1%, ending eight years of negative rates and dismantling yield curve control, but Governor Kazuo Ueda said financial conditions will remain accommodative.
European Central Bank Holds Deposit Rate at 4.00% and Signals Data-Dependent Path Ahead
The ECB kept its deposit facility rate at 4.00% in March 2024, with new staff projections showing inflation returning to 2% by 2025 and the Governing Council stressing it would monitor incoming data closely.
Bank of Canada holds overnight rate at 5% amid concern over persistent underlying inflation
The Governing Council kept its policy rate unchanged at its second decision of 2024, saying it wanted to see further and sustained easing in core inflation.
Central Bank of Egypt Raises Deposit Rate 600 Basis Points to 27.25% and Floats the Pound
The CBE delivered a 600-basis-point emergency rate hike and allowed the Egyptian pound to float freely, with the currency falling to around EGP 49 per dollar under an IMF-backed stabilisation plan.
Central Bank of Nigeria Raises Monetary Policy Rate by 400 Basis Points to 22.75%
The Monetary Policy Committee delivered Governor Olayemi Cardoso's first rate decision with a hike to a record 22.75%, raised the cash reserve ratio to 45% and widened the asymmetric corridor.
Bank of Korea Holds Base Rate at 3.50% for Ninth Consecutive Meeting Amid Household Debt Concerns
The Bank of Korea kept its base rate at 3.50% for a ninth straight meeting in February 2024, citing elevated household debt and housing market risks.
Central Bank of the Republic of Türkiye holds repo rate at 45%
At its first meeting under Governor Fatih Karahan, the CBRT paused after eight consecutive hikes and said it would keep policy tight until monthly inflation shows a significant and sustained decline.
China Cuts Five-Year Loan Prime Rate by Record 25 Basis Points to 3.95% to Support Housing Market
China's five-year LPR was reduced from 4.20% to 3.95% in the largest single reduction since the rate was introduced, while leaving the one-year rate unchanged at 3.45%.
ECB's Lagarde Warns European Parliament Against Premature Rate Cuts
Christine Lagarde told European Parliament lawmakers that the ECB needs more evidence before cutting rates, reiterating that its 2% inflation target has not been sustainably reached.
Reserve Bank of India Holds Repo Rate at 6.50% for Sixth Consecutive Meeting in February 2024
The RBI's Monetary Policy Committee kept the repo rate at 6.50% for a sixth straight meeting and maintained its withdrawal-of-accommodation stance.