Central Banking

The Central Bank of Egypt kept its interest rate unchanged at a record high of 27.25% on Thursday (Nov. 21), a decision correctly predicted by all eight economists surveyed by Bloomberg. The hold was the fifth consecutive hold and followed a cumulative hike of 1,900 basis points since March 2022. “Considering developments at the domestic and global levels, the committee views the

The European Central Bank (ECB) lowered its three key interest rates by 25 bps on Thursday (Oct. 17), as expected, following similar moves in September and June. The deposit facility, main refinancing operations, and marginal lending facility rates will now be 3.25%, 3.40%, and 3.65%, respectively. The Governing Council, led by ECB President Christine Lagarde, stated its decision was based on the

Indonesia’s central bank decided on Wednesday (Sept. 18) to cut its interest rate by 25 bps to 6%, marking the first such move since early 2021. Only three out of 33 economists polled by Reuters had forecast a cut, while the others had expected Bank Indonesia (BI) to keep rates unchanged. The overnight deposit facility and lending facility rates were also lowered

The Bank of Canada lowered its benchmark interest rate for a third consecutive time, reducing its trend-setting policy rate to 4.25% on Wednesday (Sept. 4). The central bank explained that it made the decision because the Canadian economy increased by 2.1% in the second quarter, a stronger growth than the institution had projected. Additionally, Canada’s annual inflation rate fell to 2.5% in

The Bank of England (BoE) hiked interest rates for the eleventh time in a row to 4.25% on Thursday (March 23), in line with expectations, and pushing borrowing costs to fresh 2008-highs. The policymakers emphasized they would continue to monitor the domestic economic trends, stressing that additional tightening can be anticipated if data indicate that inflationary pressures remain elevated. The BoE has been

Reserve Bank of Australia Governor Philip Lowe signaled on Tuesday (June 21) more interest rate hikes as the central bank strives to ensure that inflation returns to the target range over time. “As we chart our way back to 2 to 3 percent inflation, Australians should be prepared for more interest rate increases,” Lowe said in a speech to the American Chamber