US Rapid Response US Fed Minutes (May 6-7) The minutes of the Fed’s early-May policy meeting were, on balance, slightly hawkish. In particular, “almost all participants commented on the risk that inflation could prove to be more persistent... 28th May 2025 · 2 mins read
Australia & New Zealand Economics Update RBNZ will cut rates to 2.5% by Q1 2026 As was widely expected, the RBNZ cut its Official Cash rate by 25bp, to 3.25%, today. The revelation that the decision to cut was not a unanimous one has been interpreted as a hawkish signal by... 28th May 2025 · 3 mins read
Australia & New Zealand Rapid Response RBNZ Meeting (May 2025) With the RBNZ clearly concerned about the health of the economy, we continue to believe that its easing cycle has much further to run. 28th May 2025 · 2 mins read
Middle East & North Africa Rapid Response Egypt Interest Rate Announcement (May) 22nd May 2025 · 2 mins read
Australia & New Zealand Economics Update RBNZ Watch: RBNZ will hand down another dovish 25bp cut The RBNZ is all but certain to cut its cash rate by 25bp, to 3.25%, at its meeting ending on 28th May. With the recovery showing signs of faltering, the labour market remaining weak, and underlying... 21st May 2025 · 6 mins read
Africa Rapid Response Nigeria Interest Rate Announcement (May) The Central Bank of Nigeria left its policy rate on hold at 27.50% today and, with the disinflation progressing slowly and concerns that low oil prices will put downward pressure on the naira, it... 20th May 2025 · 2 mins read
Australia & New Zealand Economics Update RBA will cut rates to 3.35% by year-end When the Reserve Bank of Australia cut rates by 25bp at its meeting today, it signalled greater confidence that it had brought inflation under control, while sounding increasingly concerned that... 20th May 2025 · 3 mins read
Australia & New Zealand Rapid Response Reserve Bank of Australia Meeting (May 2025) With the Bank growing increasingly concerned about downside risks to the economy, there is a good chance that it will cut rates further than we are currently anticipating this cycle. 20th May 2025 · 2 mins read
Emerging Europe Rapid Response Romania Interest Rate Announcement (May) The National Bank of Romania (NBR) highlighted concerns with the uncertain political backdrop and recent pressure on the currency when leaving its policy rate on hold today, at 6.50%. We now think... 16th May 2025 · 2 mins read
RBA Watch RBA will only cut twice more this cycle With trimmed mean inflation entering the RBA’s target band for the first time since 2021, the Bank will almost certainly lower interest rates by another 25bp at next week’s meeting. However, amidst... 14th May 2025 · 8 mins read
UK Economics Update More UK rate cuts coming, but not as quickly as investors expected The Bank of England predictably cut interest rates from 4.50% to 4.25% today and gave the impression that it will continue to cut rates at the current pace of 25 basis points (bps) every quarter. As a... 8th May 2025 · 4 mins read
UK Economics Rapid Response Bank of England Announcement (8th May 2025) While cutting interest rates from 4.50% to 4.25% today, the Bank of England poured some cold water on the markets’ expectations that it is going to speed up the pace of rate cuts. As it happens, we no... 8th May 2025 · 3 mins read
Latin America Rapid Response Brazil Interest Rate Announcement (May 2025) Brazil’s central bank hiked the Selic rate by a further 50bp, to 14.75%, today and officials made clear in the accompanying statement that the tightening cycle is near an end. We are sticking with our... 7th May 2025 · 2 mins read
