The Central Bank of Iceland’s Monetary Policy Committee (MPC) unanimously held the seven-day term deposit rate at 8.00% in October, citing inflation and inflation expectations that remain too high despite slowing economic activity. Headline inflation reached a two-year high of 5.9%, while underlying inflation remained just above 4%, although inflation is expected to decline fairly rapidly in 2027.
The Reserve Bank of India’s Monetary Policy Committee unanimously raised the policy repo rate by 25 basis points to 5.50% and adopted a calibrated-tightening stance, although two members preferred neutral. Citing broadening inflation pressures and resilient growth, the committee ruled out near-term cuts and said its next move would be a hike or pause.
The Central Bank of the Dominican Republic (BCRD) raised its monetary policy rate by 25 basis points to 5.50% in September 2026 to anchor inflation expectations and limit second-round effects from persistent supply shocks. Headline inflation eased to 5.13% in August and is expected to return to the 4.0% ± 1.0% target range in the fourth quarter, while 2026 economic growth is projected at around 4.5%.
The Bank of Zambia’s Monetary Policy Committee cut the Monetary Policy Rate by 250 basis points to 10.75% in September 2026, citing lower inflation and support for financing and growth. Inflation fell to 6.1%, within the 6% to 8% target band, while future decisions will reflect inflation and financial stability risks.
Access Regxplora on the go with our new iOS app.
Disclaimer: Summaries are created using generative AI and may contain inaccuracies. Please refer to the original source for authoritative information.
European Central Bank President Christine Lagarde stressed the importance of central bank independence for price stability amid economic shocks. She warned that political influence can increase macroeconomic volatility and noted a decline in de facto independence for many central banks. Lagarde cited post-2022 volatility in Europe and argued that independent rate hikes have stabilized inflation expectations.
At the World Economic Forum in Davos, Central Reserve Bank of Peru's Governor Julio Velarde stated that Peruvian inflation could reach 1% in Q1 2025 and end the year at 2%, aligning with the bank's target. Velarde highlighted Peru's relative ease in achieving disinflation compared to other economies and noted potential US dollar strengthening in 2025 due to geopolitical uncertainties. He also discussed financial innovation with executives from Nubank and Euroclear.
The Central Bank of Iceland's 2024 summary report highlights an appreciation of the króna, limited exchange rate volatility, and a decline in interbank foreign exchange market turnover, with international reserves at ISK 886 billion, or 20% of GDP. The Bank intervened once in the foreign exchange market to stabilize the króna's exchange rate.
ECB Executive Board member Frank Elderson stressed the financial risks from climate and nature-related factors, urging banks to manage these and supervisors to include them in analyses. He noted rising natural-disaster losses' impacts on credit and inflation, while highlighting the ECB's focus on money market interest rates amid falling inflation. Elderson supported more insurance for natural catastrophes and confirmed his commitment to his full ECB mandate.
The National Bank of Georgia's Acting Governor Natia Turnava met with Central and Eastern European investors in Austria to discuss Georgia's macroeconomic situation and investment environment. Organized by Raiffeisen Bank, the meeting included over 25 investment funds. Turnava emphasized progress in macroeconomic stability, financial stability, and reducing dollarisation.
The Central Bank of Liberia said recent exchange rate fluctuations are temporary and driven by seasonal post-festive demand for US dollars rather than structural weakness in the foreign exchange market. It cited low Liberian dollar circulation relative to gross domestic product, money supply and import payments, alongside USD 661.8 million in net remittance inflows as of end-November 2024. The bank also pointed savers to CBL Bills paying a 17 percent effective annual interest rate and said it stands ready to take further monetary policy measures.
The Bank of Korea's January 2025 assessment indicates Korea's economic growth will underperform 2024 and 2025 projections due to political uncertainty affecting sentiment. Consumption and construction investment are most impacted, while CPI inflation is expected to remain stable below the 2% target. Growth is sensitive to political developments and policy implementation, with inflation influenced by exchange rates, oil prices, and demand-side pressures.
Acting Governor Natia Turnava of the National Bank of Georgia attended the Invisso International Forum in Vienna, discussing measures to manage inflation and support macroeconomic stability, focusing on increasing larization. Turnava will also meet with major Central and Eastern European investors to present on Georgia’s macroeconomic stability and the NBG’s policy to reduce dollarization, alongside Deputy Minister of Finance Ekaterine Guntsadze.
Governor Anita Angelovska-Bezhoska of the National Bank of the Republic of North Macedonia highlighted at the Central and Eastern Europe Forum that central banks' monetary tightening has been crucial in controlling inflation by stabilizing expectations. Without such measures, euro area consumer prices could have been 2.5 to 3 percentage points higher in 2024. Despite ongoing risks to medium-term price stability, she emphasized the need for structural reforms to enhance resilience to large shocks.
Governor Irena Radovic of the Central Bank of Montenegro addressed the Euromoney Central & Eastern European Forum on central banks' post-inflation challenges, digitalisation, and evolving mandates. She highlighted Montenegro's accession to the Single Euro Payments Area and its EU integration progress, emphasizing the need to maintain central bank independence amid pressures to broaden mandates.
The European Central Bank released a speech by Executive Board member Philip R. Lane outlining the euro area outlook, based on December 2024 Eurosystem staff projections. Key forecasts include HICP inflation at 2.4% in 2024, decreasing to 2.1% by 2027, and real GDP growth rising from 0.7% in 2024 to 1.3% in 2027. The speech also addressed money and credit developments, bank funding costs, lending standards, and inflation expectations.
The Central Bank of Iceland released its Monetary Policy Committee report to Parliament, detailing activities from July to December 2024, including three regular meetings, with the latest on 20 November 2024. The report, mandated biannually under the Act on the Central Bank of Iceland, is reviewed by a parliamentary committee.
The Central Bank of Iceland’s Monetary Policy Committee (MPC) unanimously held the seven-day term deposit rate at 8.00% in October, citing inflation and inflation expectations that remain too high despite slowing economic activity. Headline inflation reached a two-year high of 5.9%, while underlying inflation remained just above 4%, although inflation is expected to decline fairly rapidly in 2027.
The Reserve Bank of India’s Monetary Policy Committee unanimously raised the policy repo rate by 25 basis points to 5.50% and adopted a calibrated-tightening stance, although two members preferred neutral. Citing broadening inflation pressures and resilient growth, the committee ruled out near-term cuts and said its next move would be a hike or pause.
The Central Bank of the Dominican Republic (BCRD) raised its monetary policy rate by 25 basis points to 5.50% in September 2026 to anchor inflation expectations and limit second-round effects from persistent supply shocks. Headline inflation eased to 5.13% in August and is expected to return to the 4.0% ± 1.0% target range in the fourth quarter, while 2026 economic growth is projected at around 4.5%.
The Bank of Zambia’s Monetary Policy Committee cut the Monetary Policy Rate by 250 basis points to 10.75% in September 2026, citing lower inflation and support for financing and growth. Inflation fell to 6.1%, within the 6% to 8% target band, while future decisions will reflect inflation and financial stability risks.
The Bank of Mozambique held the MIMO policy rate at 9.25% and approved an 18-month reserve requirement regime allowing banks to deduct eligible local-currency financing for import substitution or export growth, priced at MIMO plus up to 150 basis points. Annual inflation slowed to 6.5% in August, while the economic recovery remained weak and climate and geopolitical risks elevated.
The Central Bank of Sri Lanka held the Overnight Policy Rate at 8.75%, judging that the effects of its May tightening and other measures had largely materialised. Headline inflation reached 8.0% in August and is expected to remain in high single digits through the first quarter of 2027 before easing toward the 5% target, with the central bank remaining data-dependent amid geopolitical and climate-related risks.
The Central Bank of Colombia raised its monetary policy rate by 25 basis points to 12.25% by majority vote as headline and core inflation and near-term expectations increased. Headline inflation reached 6.2% in August, and future decisions will depend particularly on El Niño, earthquake recovery and fiscal policy measures.
The Reserve Bank of Australia unanimously raised the cash rate target by 25 basis points to 4.60% on 29 September, citing persistently high inflation and materialising upside risks despite signs of slowing growth. It signalled further tightening if needed, guided by incoming data and evolving risks.
Access Regxplora on the go with our new iOS app.
Disclaimer: Summaries are created using generative AI and may contain inaccuracies. Please refer to the original source for authoritative information.
European Central Bank President Christine Lagarde stressed the importance of central bank independence for price stability amid economic shocks. She warned that political influence can increase macroeconomic volatility and noted a decline in de facto independence for many central banks. Lagarde cited post-2022 volatility in Europe and argued that independent rate hikes have stabilized inflation expectations.
At the World Economic Forum in Davos, Central Reserve Bank of Peru's Governor Julio Velarde stated that Peruvian inflation could reach 1% in Q1 2025 and end the year at 2%, aligning with the bank's target. Velarde highlighted Peru's relative ease in achieving disinflation compared to other economies and noted potential US dollar strengthening in 2025 due to geopolitical uncertainties. He also discussed financial innovation with executives from Nubank and Euroclear.
The Central Bank of Iceland's 2024 summary report highlights an appreciation of the króna, limited exchange rate volatility, and a decline in interbank foreign exchange market turnover, with international reserves at ISK 886 billion, or 20% of GDP. The Bank intervened once in the foreign exchange market to stabilize the króna's exchange rate.
ECB Executive Board member Frank Elderson stressed the financial risks from climate and nature-related factors, urging banks to manage these and supervisors to include them in analyses. He noted rising natural-disaster losses' impacts on credit and inflation, while highlighting the ECB's focus on money market interest rates amid falling inflation. Elderson supported more insurance for natural catastrophes and confirmed his commitment to his full ECB mandate.
The National Bank of Georgia's Acting Governor Natia Turnava met with Central and Eastern European investors in Austria to discuss Georgia's macroeconomic situation and investment environment. Organized by Raiffeisen Bank, the meeting included over 25 investment funds. Turnava emphasized progress in macroeconomic stability, financial stability, and reducing dollarisation.
The Central Bank of Liberia said recent exchange rate fluctuations are temporary and driven by seasonal post-festive demand for US dollars rather than structural weakness in the foreign exchange market. It cited low Liberian dollar circulation relative to gross domestic product, money supply and import payments, alongside USD 661.8 million in net remittance inflows as of end-November 2024. The bank also pointed savers to CBL Bills paying a 17 percent effective annual interest rate and said it stands ready to take further monetary policy measures.
The Bank of Korea's January 2025 assessment indicates Korea's economic growth will underperform 2024 and 2025 projections due to political uncertainty affecting sentiment. Consumption and construction investment are most impacted, while CPI inflation is expected to remain stable below the 2% target. Growth is sensitive to political developments and policy implementation, with inflation influenced by exchange rates, oil prices, and demand-side pressures.
Acting Governor Natia Turnava of the National Bank of Georgia attended the Invisso International Forum in Vienna, discussing measures to manage inflation and support macroeconomic stability, focusing on increasing larization. Turnava will also meet with major Central and Eastern European investors to present on Georgia’s macroeconomic stability and the NBG’s policy to reduce dollarization, alongside Deputy Minister of Finance Ekaterine Guntsadze.
Governor Anita Angelovska-Bezhoska of the National Bank of the Republic of North Macedonia highlighted at the Central and Eastern Europe Forum that central banks' monetary tightening has been crucial in controlling inflation by stabilizing expectations. Without such measures, euro area consumer prices could have been 2.5 to 3 percentage points higher in 2024. Despite ongoing risks to medium-term price stability, she emphasized the need for structural reforms to enhance resilience to large shocks.
Governor Irena Radovic of the Central Bank of Montenegro addressed the Euromoney Central & Eastern European Forum on central banks' post-inflation challenges, digitalisation, and evolving mandates. She highlighted Montenegro's accession to the Single Euro Payments Area and its EU integration progress, emphasizing the need to maintain central bank independence amid pressures to broaden mandates.
The European Central Bank released a speech by Executive Board member Philip R. Lane outlining the euro area outlook, based on December 2024 Eurosystem staff projections. Key forecasts include HICP inflation at 2.4% in 2024, decreasing to 2.1% by 2027, and real GDP growth rising from 0.7% in 2024 to 1.3% in 2027. The speech also addressed money and credit developments, bank funding costs, lending standards, and inflation expectations.
The Central Bank of Iceland released its Monetary Policy Committee report to Parliament, detailing activities from July to December 2024, including three regular meetings, with the latest on 20 November 2024. The report, mandated biannually under the Act on the Central Bank of Iceland, is reviewed by a parliamentary committee.