Bank of China policy interest rate and the US-Iran MOU signing
June Major Central Banks Roundup: Rate Cut Hopes Fade, Focus Shifts to Resurgent Inflation
In June, major central banks overall leaned away from rate cuts and highlighted vigilance against re-accelerating inflation. The ECB and the Bank of Japan moved toward tightening, while the Federal Reserve, Bank of England, and Reserve Bank of Australia held rates steady while maintaining a hawkish stance. Meanwhile, Canada, Switzerland, and New Zealand remained cautious due to considerations about their economies and exchange rates.
Key points this time
- Nearly all central banks mention inflation
- Countries show a strong posture on inflation response, while Japan stands out for its caution
- Will a reassessment of the US monetary policy approach spread globally?