Global monetary policy trends
Track emerging trends in global monetary policy and understand their impact on markets worldwide.
Global Monetary Policy Trends
Biden Administration Moves to Cancel $4.65 Billion of Ukraine's Debt
The Biden administration plans to cancel $4.65 billion of Ukraine's debt as part of a strategy to bolster support for Kyiv before potential political changes in the U.S. This move coincides with Ukraine's military actions against Russia.
linkCopy linkshare_windowsShareTrump's Trade Appointment Sparks Controversy Over China Ties
Howard Lutnick's appointment by President-elect Trump to lead U.S. trade agencies raises concerns due to his connections with China, intensifying scrutiny amid ongoing U.S.-China trade tensions.
linkCopy linkshare_windowsShareNvidia's Forecast Drives Asian Stocks Down Amid Dollar Strength
Asian stocks declined following Nvidia's disappointing revenue forecast, while the dollar strengthened and bitcoin reached a record high, reflecting market reactions to anticipated U.S. economic policies under President-elect Trump.
linkCopy linkshare_windowsShareDollar Stalls Amid Uncertainty Over Trump Policies and Fed Rate Outlook
The U.S. dollar's advance paused as traders anticipated clarity on President-elect Trump's policies and speculated on the Federal Reserve's potential for less aggressive interest rate cuts.
linkCopy linkshare_windowsShareRupee Under Pressure Amid Fed Caution and Geopolitical Tensions
The Indian rupee faces ongoing pressure due to the Federal Reserve's cautious stance on interest rate cuts and heightened geopolitical risks from the Ukraine-Russia conflict, which bolster the U.S. dollar's strength.
linkCopy linkshare_windowsShareDiverging Views on Inflation Risks Shape Future Fed Policy
Two Federal Reserve governors presented contrasting views on inflation risks, with one highlighting persistent concerns while the other is optimistic about easing price pressures, indicating a potential divergence in future monetary policy.
linkCopy linkshare_windowsShareFed's Rate Cuts: December Action with Caution for 2025 Amid Inflation Concerns
The U.S. Federal Reserve plans to lower interest rates in December but will implement slower cuts in 2025 due to inflation risks associated with President-elect Trump's policies, as indicated by a Reuters poll.
linkCopy linkshare_windowsShareEurozone Bonds Face Pressure from Upcoming Spanish and French Auctions
Upcoming bond auctions in Spain and France are expected to pressure eurozone government bond markets, although stabilization is anticipated afterward as focus shifts back to geopolitical risks, according to Commerzbank Research.
linkCopy linkshare_windowsShareTrump's Policies Drive Dollar Strength, Challenging Asian Central Banks
Trump's policies are raising inflation expectations, which in turn is strengthening the dollar. This situation poses challenges for central banks in Asia as they navigate the impacts on their economies.
linkCopy linkshare_windowsSharePhilippine Stock Exchange Eyes $2.4 Billion Fundraising Boost from Rate Cuts
The Philippine Stock Exchange anticipates a surge in fundraising activities in 2025, driven by expectations of an interest rate cut that could invigorate the market and encourage more companies to go public.
linkCopy linkshare_windowsSharePhilippine Peso Hits Record Low Amid Dovish Central Bank Signals
The Philippine peso has reached a record low, influenced by dovish remarks from the central bank, raising concerns about the currency's stability and future monetary policy direction.
linkCopy linkshare_windowsShareBank Indonesia to Slow Interest Rate Cuts Amid Global Uncertainties
Economists predict that Bank Indonesia will implement slower and shallower cuts to its benchmark interest rate due to global uncertainties affecting the stability of the rupiah.
linkCopy linkshare_windowsShareRBI's Strategy to Safeguard India's Economy from Global Financial Risks
The Reserve Bank of India is actively defending its foreign exchange policy to maintain currency stability, aiming to protect the economy from global financial risks and spillovers.
linkCopy linkshare_windowsShareEuropean Futures Rise Ahead of Key US Jobs Data Impacting Fed Policy
European stock futures increased as investors anticipated US jobs data, which is expected to influence the Federal Reserve's decisions regarding interest rate cuts, highlighting the interconnectedness of global markets.
linkCopy linkshare_windowsShareECB's Villeroy: Trump Tariffs Won't Disrupt Monetary Easing Plans
Francois Villeroy de Galhau of the ECB stated that potential trade tariffs under a second Trump presidency are unlikely to disrupt the bank's monetary easing strategies.
linkCopy linkshare_windowsShareRBI's Commitment: Inflation Control Essential for Monetary Policy Success
RBI Governor Shaktikanta Das emphasized that the central bank's role remains incomplete until inflation stabilizes around the 4% target, indicating a commitment to ongoing monetary policy adjustments.
linkCopy linkshare_windowsShareNorway's Economic Surge Signals Potential Rate Cuts Ahead
Norway's economy experienced its fastest GDP growth in nearly two years, leading to expectations that the central bank will start easing borrowing costs in the upcoming quarter.
linkCopy linkshare_windowsShareTurkey's Central Bank Signals Potential Shift to Rate Cuts Soon
Turkey's central bank is expected to maintain its main interest rate for the eighth consecutive month, but may signal the beginning of an easing cycle as early as December.
linkCopy linkshare_windowsShareSouth Africa's Reserve Bank Opts for Caution Amid Inflation Slowdown
South Africa's Reserve Bank plans a modest interest rate cut of 0.25% despite a significant inflation slowdown, as emerging risks, including concerns related to Trump, influence its outlook.
linkCopy linkshare_windowsShareEgypt Maintains High Interest Rates Amid Fuel Price Concerns and IMF Review
Egypt plans to maintain its record-high interest rates while assessing the inflationary effects of a recent fuel-price increase and awaiting a critical review from the International Monetary Fund.
linkCopy linkshare_windowsShareFed's Collins Calls for Cautious Approach to Interest Rate Cuts
Federal Reserve Bank of Boston President Susan Collins advocates for additional interest-rate cuts, emphasizing the need for a cautious approach to avoid hasty decisions that could destabilize the economy.
linkCopy linkshare_windowsShareECB's Stournaras Confident in Achieving 2% Inflation Target by 2025
Yannis Stournaras of the European Central Bank indicates that the euro zone is nearing a sustainable 2% inflation target, urging officials to ensure they do not fall short of this goal.
linkCopy linkshare_windowsShareBOE's Ramsden Open to Faster Rate Cuts Amid Economic Uncertainty
Bank of England Deputy Governor Dave Ramsden indicated a willingness to support faster interest rate cuts if economic uncertainty in the UK diminishes in the near future.
linkCopy linkshare_windowsShareFed's Bowman Calls for Caution on Future Rate Cuts Amid Inflation Concerns
Federal Reserve Governor Michelle Bowman advocates for a cautious approach to interest-rate cuts, citing a slowdown in progress towards reducing inflation as a key concern.
linkCopy linkshare_windowsShareFed Governor Advocates Gradual Rate Cuts Amid Inflation Stabilization
Federal Reserve Governor Lisa Cook advocates for gradual interest rate cuts, emphasizing the need to move towards a neutral stance as inflation stabilizes and the labor market remains strong.
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Spanish Banking Giant Braces for Profit Squeeze as Interest Rates Decline
CaixaBank, Spain's largest domestic bank, forecasts weaker profitability over the next three years due to falling interest rates and increased costs, expecting a return on tangible equity of over 16% by 2027.
linkCopy linkshare_windowsShareUK Inflation Surge Fuels Rate Cut Speculations Amid Dollar Decline
UK inflation exceeded 2% in October, prompting expectations for gradual interest rate cuts by the Bank of England. Meanwhile, the U.S. dollar fell to a one-week low amid market adjustments post-Trump's election.
linkCopy linkshare_windowsShareFed's Schmid Highlights Uncertainty in Future Interest Rate Cuts
Kansas City Fed President Jeffrey Schmid expressed uncertainty about the extent to which interest rates can decrease, although recent cuts signal confidence in inflation returning to the 2% target.
linkCopy linkshare_windowsShareBank of Japan Prepares for Interest Rate Hikes Amid Market Uncertainty
The Bank of Japan is preparing to raise interest rates, but uncertainty remains regarding the timing and pace of these increases, leaving markets in speculation about future monetary policy.
linkCopy linkshare_windowsShareUBS Adjusts Gold Price Forecast Amid Strong Demand and Economic Concerns
UBS predicts gold prices may reach new highs in 2025, adjusting its forecast to $2,900/oz due to a stronger dollar and potential interest rate hikes, while maintaining a bullish outlook amid strong demand.
linkCopy linkshare_windowsShareBank Indonesia Maintains Interest Rate Amid Rupiah Pressure
Bank Indonesia has decided to maintain its key interest rate amid rising market concerns and geopolitical tensions, as the rupiah approaches a critical support level of 16,000 per dollar.
linkCopy linkshare_windowsShareUBS Predicts Continued Gold Rally Amid Central Bank Purchases
UBS forecasts gold prices will reach $2,900 an ounce by the end of next year, aligning with Goldman Sachs' prediction, driven by increased central bank purchases and a bullish outlook on gold's value.
linkCopy linkshare_windowsShareDiverging ECB and BOJ Policies Boost Euro-Yen Trading Prospects
The euro-yen currency pair is gaining attention due to the diverging monetary policies of the European Central Bank and the Bank of Japan, creating potential trading opportunities.
linkCopy linkshare_windowsShareTrump's Economic Policies Could Challenge U.S. Inflation Goals
Bridgewater Associates warns that President-elect Trump's policies on tariffs and fiscal stimulation may lead the U.S. to miss its 2% inflation target, indicating potential shifts in monetary policy.
linkCopy linkshare_windowsShareUK Inflation Surge Challenges Prospects for Interest Rate Cuts
UK inflation rose to 2.3% in October, exceeding the Bank of England's 2% target, which may hinder the likelihood of interest rate cuts in the near future.
linkCopy linkshare_windowsShareSouth Africa's Inflation Drop Signals Potential Rate Cuts Ahead
South Africa's inflation rate has dropped to a four-year low, indicating a likely reduction in borrowing costs during the upcoming interest rate decision, reflecting positive economic trends.
linkCopy linkshare_windowsShareIMF Downgrades South Korea's Growth Forecast Amid Trade Challenges
The IMF has revised down South Korea's economic growth forecast due to increasing trade headwinds, reflecting broader concerns among economists about the export-dependent economy's resilience.
linkCopy linkshare_windowsShareBank of England's New Rate-Setter Signals Potential for Swift Rate Cuts
Alan Taylor, the Bank of England's newest rate-setter, suggests that interest rate cuts may occur more swiftly than anticipated if economic conditions deteriorate, indicating a dovish stance.
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Trump's Tariff Proposals: A Potential Catalyst for Inflation Uncertainty
Trump's proposed tariffs are expected to increase consumer prices and inflation, though estimates vary widely. The uncertainty surrounding his economic policies raises questions about their overall impact on growth and inflation.
linkCopy linkshare_windowsShareTrump's Treasury Secretary Search: Key Candidates and Economic Implications
The discussion highlights the ongoing search for a Treasury Secretary under President-elect Trump, with potential candidates like Kevin Warsh and Scott Besson, amid concerns over their economic policies and the implications for U.S.-China relations.
linkCopy linkshare_windowsShareMarket Anticipates Bank of Japan's Rate Hike Amid Yen Decline
Investors anticipate a hawkish shift from the Bank of Japan due to a declining yen, leading them to short bonds and purchase bank shares in expectation of imminent interest rate hikes.
linkCopy linkshare_windowsShareAustralia's Central Bank Stays Steady on Rates Amid Economic Uncertainty
Australia's central bank maintains steady interest rates for a year, indicating no immediate changes are necessary. However, they emphasize the importance of being prepared to adjust as the economic outlook shifts.
linkCopy linkshare_windowsShareAsian Markets Rally Amid Easing Dollar and Bond Yields
Asian stocks increased as U.S. bond yields and the dollar retreated from recent highs. Traders are closely monitoring the implications of President-elect Trump's cabinet choices on Federal Reserve easing expectations.
linkCopy linkshare_windowsShareYen Strengthens as Dollar Rally Pauses Amid Profit-Taking
The yen strengthened against the dollar, stabilizing above 155 per dollar, as profit-taking halted the dollar's recent rally, which had reached a one-year high.
linkCopy linkshare_windowsShareSan Francisco Fed: Labor Market's Inflation Impact Is Easing
Research from the San Francisco Federal Reserve indicates that while the tight U.S. labor market continues to contribute to inflation, its impact has diminished compared to previous years.
linkCopy linkshare_windowsShareTraders Eye Fed's Moves Amid Anticipated Political Changes
Traders are closely monitoring the Federal Reserve's actions as they anticipate key political developments, which could significantly influence market dynamics in Europe and globally.
linkCopy linkshare_windowsShareEmerging Markets Surge on Rate-Cut Expectations, Singapore Hits 17-Year High
Emerging Asian stock markets, particularly in Bangkok and Manila, surged on expectations of imminent rate cuts, while Singapore's shares reached a 17-year high, driven by strong financial sector performance.
linkCopy linkshare_windowsShareDollar Steady Amid Anticipation of U.S. Economic Policy Changes
The dollar remains steady as investors pause following the Trump trade, awaiting U.S. economic data and insights into the implementation of the president-elect's policies, which may influence future monetary policy.
linkCopy linkshare_windowsShareEurozone Rate Cut Expectations Surge Ahead of U.S. and U.K.
Money markets indicate a growing expectation for interest rate cuts in the eurozone compared to the U.S. and U.K., with a 77% chance of a 25 basis-point ECB cut in December, reflecting a significant divergence in monetary policy outlooks.
linkCopy linkshare_windowsSharePhilippine Central Bank Weighs Rate Cut Amid Political Uncertainty
Philippine central bank Governor Eli Remolona indicated that the upcoming December meeting will consider both a rate cut and a pause, reflecting uncertainty in monetary policy following Donald Trump's election victory.
linkCopy linkshare_windowsShareAbrdn's Chairman Sees Positive Investment Trends Returning to China
Abrdn Chairman Douglas Flint expresses optimism about returning investment flows to China, highlighting the importance of consumer confidence and the potential impact of Trump's presidency on global markets.
linkCopy linkshare_windowsShareJapan and China Reduce US Treasury Holdings Before Election Rally
Japan and China, two major foreign holders of US Treasuries, significantly reduced their holdings in the third quarter, coinciding with a rally in Treasuries ahead of the presidential election.
linkCopy linkshare_windowsShareAfrican Central Banks Prepare for Rate Cuts Amid Trump Presidency
In light of Donald Trump's presidency, most African central banks are expected to lower interest rates in the coming weeks, anticipating a shrinking opportunity for further easing.
linkCopy linkshare_windowsShareHungary's Interest Rate Strategy Aims to Stabilize Forint Post-Trump Election
Hungary plans to maintain its key interest rate for a second consecutive month to stabilize the forint, following significant currency declines triggered by Donald Trump's election victory.
linkCopy linkshare_windowsShareRBA Evaluates Interest Rate Strategies Amid Persistent Inflation Concerns
Australia's central bank considers its current interest rate policy appropriate to combat high core inflation, while evaluating potential scenarios for rate cuts, hikes, or maintaining rates longer.
linkCopy linkshare_windowsShareBank of England Advocates Caution in Interest Rate Cuts Amid Inflation Concerns
Megan Greene of the Bank of England emphasizes the need for caution in interest rate cuts due to persistently high underlying inflation pressures in the UK, indicating a careful approach to monetary policy.
linkCopy linkshare_windowsShareECB Faces Increased Risk of Missing Inflation Target, Warns Vujcic
Boris Vujcic, a member of the European Central Bank's Governing Council, warns that the risk of the ECB undershooting its 2% inflation target has increased, indicating potential challenges for future monetary policy.
linkCopy linkshare_windowsShareBank of England Warns Labour Budget Could Drive Inflation Higher
Megan Greene of the Bank of England cautioned that Labour's budget will raise employment costs, contributing to inflationary pressures, during her remarks at a London event.
linkCopy linkshare_windowsShareColombia's Economic Struggles Prompt Calls for Deeper Interest Rate Cuts
Colombia's GDP growth fell short of forecasts in Q3 due to declines in mining and manufacturing, reinforcing President Gustavo Petro's call for more significant interest rate cuts to stimulate the economy.
linkCopy linkshare_windowsShareECB's December Rate Cut: A Quarter-Point Reduction Expected
Yannis Stournaras, a member of the European Central Bank's Governing Council, has indicated that a quarter-point interest rate cut in December is highly likely, reflecting ongoing adjustments in monetary policy.
linkCopy linkshare_windowsSharePowell Signals Long Wait for Housing Inflation Normalization
Federal Reserve Chair Jerome Powell indicated that the central bank is monitoring housing inflation closely, which remains unnormalized, suggesting a potential wait until 2026 for stabilization.
linkCopy linkshare_windowsShareBrazil's Interest Rate and Inflation Forecasts Adjusted Amid Tightening Cycle
Analysts in Brazil have increased their forecasts for the benchmark interest rate and inflation for 2025, responding to central bankers' indications of a prolonged monetary tightening cycle.
linkCopy linkshare_windowsShareCzech Central Bank Chief Predicts Increased Global Price Volatility
Czech central bank Governor Ales Michl warns that global economies will experience more significant fluctuations in consumer prices, necessitating stricter monetary and fiscal policies than previously implemented.
linkCopy linkshare_windowsShareECB's Makhlouf Advocates Caution in Interest Rate Decisions
Gabriel Makhlouf of the European Central Bank emphasizes a cautious approach to interest rate cuts, stating there is no urgency for larger reductions, reflecting a careful stance on monetary policy.
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