Russian Interest Rate Cut December 19, 2025 The Bank of Russia has cut its interest rate by another 50 basis points, but the level remains high at 16.0% versus on-year CPI inflation of 6.6% in November, which was a 26-month low. “Proinflationary risks still prevail over disinflationary ones in the mid-term horizon.” The central bank…
Bank of Japan Rate Hike December 19, 2025 As widely anticipated, the Bank of Japan implemented its first interest rate increase in 11 months. At 0.75%, the short-term deposit facility has attained its highest level in in just over three decades. Today’s fourth increase since March 2024 won unanimous approval by the central bank board…
Another Interest Rate Cut by the Bank of Mexico December 18, 2025 A cycle of a thirteen interest rate cuts by the Bank of Mexico began a year and a half ago from a peak of 11.25%, with five initial reductions of 25 basis points, then four larger 50-basis point moves and after than a…
Bank of England Cuts Interest Rate but Leaves Future Moves in Doubt December 18, 2025 Among the many central bank interest rate announcements made today, the most surprising came from the Bank of England‘s. The rate cut of 25 basis points to 3.75% — a low not seen since January 2023 — met expectations, but…
Attention Shared by Central Bank Decisions & Year-end Data Deluge December 17, 2025 The dollar rose overnight, led by gains of 0.5% against yen and sterling. The U.S. currency also appreciated 0.2% against the Australian currency and Mexican peso and 0.1% relative to the Swiss franc, euro, kiwi and won. Gold is 0.7% stronger, whereas…
Business World Plows On In Spite of Dystopic Newsfeed December 15, 2025 (161) The coming week will be the last one of 2025 in which financial markets are not heavily affected by year-end factors. A heavy menu of economic data releases, including belated U.S. ones due to the government shutdown. Oftentimes particularly in the early…
Next Week’s Menu: December 13-19, 2025 December 12, 2025 Central Banks: Monetary policy stances will be reviewed at the European Central Bank, Bank of Japan, Bank of England, and also in Norway, Sweden, Indonesia, Hungary, Thailand, Mexico, Russia, Czech Republic and Jamaica. Fed officials speaking publicly during the period include Miran, Waller, Williams, and Bostic….
T.G.I.F. December 12, 2025 As 2025 sprints to the finish line, the weeks have gotten exhausting and confusing. Just under three full weeks remain, and the last two will be distorted by the holidays. Overnight changes in the dollar have not been significant, but that doesn’t change the softening trend of the dollar since just…
Thursday Roundup December 11, 2025 Many other central banks made interest rate announcements the day after the Federal Reserve’s fed funds target was cut on Wednesday by 25 basis points by a split vote of 10-2-1 with District Presidents Schmid and Goolsbee preferring to leave the rate unchanged at 3.75-4.0% and Governor Miran promoting a…
FOMC Statement, Updated Forecast, and Powell Press Conference December 10, 2025 In the six weeks since the late October review of U.S. monetary policy, the dollar on balance moved hardly at all against the euro but rose 2.7% against the Japanese yen as can be seen at the bottom of the table below. The 10-year…