Edited by Simisola Fagbola, Econoday Economist The Economy Monetary policy The Swiss National Bank decided not to push rates into negative territory following its September meeting, leaving the rate on sight deposits which banks keep at the SNB at 0.0 up to a determined threshold. The discount rate for sight deposits above the limit was …
Edited by Simisola Fagbola, Econoday Economist The Economy Monetary policy As expected, the Bank of Canada cut its key policy rate by 25 basis points to 2.50 percent Wednesday, citing a “weaker economy and less upside risk to inflation.” In his statement, Governor Tiff Macklem cited three developments that have shifted the balance of risks …
The complexion of the September 16-17 FOMC meeting changes with two developments. First is the unusually swift confirmation of Stephen Miran as a Fed governor and his swearing in that took place before the meeting began on Tuesday. Miran is appointed to complete the term ending January 31, 2026 that was vacated early by Adriana …
Edited by Simisola Fagbola, Econoday Economist The Economy Monetary policy The ECB’s Governing Council pressed pause on policy, keeping its three key rates unchanged at 2.00 percent (deposit), 2.15 percent (refinancing), and 2.40 percent (lending). Inflation, now hovering near the 2 percent medium-term target, remains the anchor for policy strategy. Updated staff projections point to …
Edited by Simisola Fagbola, Econoday Economist The Economy Monetary policy The Reserve Bank of New Zealand’s Monetary Policy Committee has reduced the official cash rate by 25 basis points to 3.00 percent, in line with the consensus forecast. Officials have lowered policy rates by a cumulative 250 basis points over their previous eight meetings after …
Edited by Simisola Fagbola, Econoday Economist The Economy Monetary policy The Reserve Bank of Australia lowered its main policy rate, the cash rate, by 25 basis points from 3.85 percent to 3.60 percent at its meeting today, in line with the consensus forecast. This rate was left on hold at the RBA’s previous meeting in …
Edited by Simisola Fagbola, Econoday Economist The Economy Monetary policy In a finely balanced 5–4 decision, the Bank of England’s Monetary Policy Committee opted to cut the Bank Rate to 4 percent, signaling cautious optimism in the disinflation journey. This move reflects a growing belief that the worst of inflation may be behind, even as …
Edited by Simisola Fagbola, Econoday Economist The Economy Monetary policy The Bank of Canada left its target interest rate unchanged at 2.75 percent for the third consecutive meeting, as expected by forecasters in an Econoday survey. The central bank cited the resilience of the Canadian economy and ongoing pressures on core inflation, adding it continues …
Last Week: Key Global Events Edited by Simisola Fagbola, Econoday Economist The Economy Monetary policy The European Central Bank held interest rates steady in July, signaling cautious confidence in its inflation-control strategy. With inflation now at the 2 percent medium-term target, the ECB opted to maintain the deposit, refinancing, and lending rates at 2.00 percent, …
Edited by Simisola Fagbola, Econoday Economist The Economy Inflation June’s warm US inflation data could be the start of the expected inflationary effects of higher tariffs (predicted to hit from mid-2025 onwards). This will bolster the Federal Reserve’s wait-and-see stance as it assesses if this report does mark the beginning of a broad and sustained …
