The Bank of Mexico unanimously held the overnight interbank interest rate target at 6.50%, citing continued disinflation, expected economic slack and limited demand pressures, while maintaining an upward bias in inflation risks. Headline inflation is projected to converge to the 3% target in the fourth quarter of 2027.
The Central Bank of Lesotho’s Monetary Policy Committee raised the CBL Rate by 25 basis points to 7.00%, citing increased upside inflation risks and tighter regional and global financial conditions. The rate maintains a 25-basis-point differential to South Africa’s 7.25% policy rate, which the committee considers sufficient to sustain the exchange-rate peg and support domestic activity.
The Central Bank of Eswatini raised the discount rate by 25 basis points to 7.00%, effective 26 September 2026, with banks expected to increase the prime lending rate to 10.50%. It lowered its 2026 inflation forecast to 2.52% but cited elevated risks from Middle East tensions and a potential El Niño drought.
The Bank of Ghana’s Monetary Policy Committee (MPC) unanimously held the Monetary Policy Rate at 14.0% in September, assessing inflation and growth risks as broadly balanced. Headline inflation rose to 5.0% in August, below the 8% ±2 percentage-point target, while second-quarter real GDP grew 6.0%.
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Disclaimer: Summaries are created using generative AI and may contain inaccuracies. Please refer to the original source for authoritative information.
The Bank of Mexico unanimously held the overnight interbank interest rate target at 6.50%, citing continued disinflation, expected economic slack and limited demand pressures, while maintaining an upward bias in inflation risks. Headline inflation is projected to converge to the 3% target in the fourth quarter of 2027.
The Central Bank of Lesotho’s Monetary Policy Committee raised the CBL Rate by 25 basis points to 7.00%, citing increased upside inflation risks and tighter regional and global financial conditions. The rate maintains a 25-basis-point differential to South Africa’s 7.25% policy rate, which the committee considers sufficient to sustain the exchange-rate peg and support domestic activity.
The Central Bank of Eswatini raised the discount rate by 25 basis points to 7.00%, effective 26 September 2026, with banks expected to increase the prime lending rate to 10.50%. It lowered its 2026 inflation forecast to 2.52% but cited elevated risks from Middle East tensions and a potential El Niño drought.
The Bank of Ghana’s Monetary Policy Committee (MPC) unanimously held the Monetary Policy Rate at 14.0% in September, assessing inflation and growth risks as broadly balanced. Headline inflation rose to 5.0% in August, below the 8% ±2 percentage-point target, while second-quarter real GDP grew 6.0%.
The Central Bank of Egypt’s Monetary Policy Committee held the overnight deposit, overnight lending and main-operation rates at 19.00%, 20.00% and 19.50%, respectively, and the discount rate at 19.50%, judging its restrictive stance sufficient to sustain disinflation and contain upside risks. Annual headline inflation eased to 14.5% in August and is expected to converge toward the 7% target, plus or minus 2 percentage points, in the second half of 2027.
The Swiss National Bank held its policy rate at 0%, judging current settings appropriate as medium-term inflationary pressure increased only slightly, and reiterated its willingness to intervene in foreign exchange markets if needed. Inflation reached 0.8% in August, while the SNB projects GDP growth of 1.5% to 2% in 2026 and around 1.5% in 2027.
The Riksbank held its policy rate at 1.75% but said stronger economic activity and continued supply shocks could require rate increases beginning in 2026 if the outlook is unchanged. It raised its 2026 growth forecast to 2.8% and warned that a larger, more persistent inflation upturn would prompt faster tightening.
Norges Bank’s Monetary Policy and Financial Stability Committee raised the policy rate by 25 basis points to 4.50%, citing the need for tighter policy to return inflation to the 2% target, forecast for 2029. The Committee expects to keep rates elevated before a modest decline and remains prepared to tighten further if warranted.
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Disclaimer: Summaries are created using generative AI and may contain inaccuracies. Please refer to the original source for authoritative information.