Central Bank Watch
Today’s Half Percentage Point Further Increase in Brazil’s Selic Interest Rate Had Been Expected
May 7, 2025
After decelerating from 12.1% in mid-2022 to 3.2% a year later, Brazilian consumer price inflation climbed back to a 25-month high of 5.5% by March of this year. Today’s increase in the Central Bank of Brazil’s Selic interest rate from 14.25% to 14.75% was the sixth hike since September for a total climb since then […] More
Central Bank Watch
FOMC Statement and Chairman Powell’s Press Conference
May 7, 2025
Federal Reserve policy held steady at the third scheduled FOMC review of 2025. The decision to stay put was very widely anticipated and approved by all voting members of the FOMC today. A released statement reaffirms that the recent pace of economic activity in the United States and and current labor market conditions have stayed […] More
Central Bank Watch
May 2025 FOMC Meeting Preview
May 7, 2025
In the seven weeks since the last FOMC meeting, the dollar has declined 4.2% against the euro and 1.7% relative to the yen. The 4-basis point net drop in the 10-year Treasury yield and 1.1% slide of the Dow Jones Industrials belie the extreme financial market volatility experiences during the period. A more representative barometer […] More
Central Bank Watch
Polish and Czech Central Bank Rate Cuts
May 7, 2025
Officials at the Czech National Bank cut their two-week repo rate by 25 basis points to 3.50%, its lowest level since December 2021 and down from a cycle peak of 7.0% maintained for a full year prior to an initial cut in December 2023. One of the seven voters behind this decision preferred to leave […] More
New Overnight Developments Abroad - Daily Update
Federal Reserve Tops a List of Many Central Banks Deciding Interest Rate Levels
May 7, 2025
Today’s FOMC decision at 18:00 GMT (14:00 EDT) is universally expected to be an unchanged federal funds target range of 4.25-4.50%. Updated macroeconomic forecasts are not scheduled at this meeting, so the focus will be on what Fed Chairman Powell says at his press conference, which begins at 14:30 EDT and, even more influentially, how […] More
