Latest news with #policyrate
Reuters
5 days ago
- Business
- Reuters
Ghana's central bank will discuss key rate in 10 days, governor says
ACCRA, July 17 (Reuters) - Ghana's central bank held an emergency meeting on Thursday to review economic data and market developments, but did not discuss its key policy rate, Governor Johnson Asiama said, adding the main meeting is in 10 days. In a statement released late on Wednesday, the Bank of Ghana said it would announce its policy decision the day after the special session. The central bank's fourth rate-setting Monetary Policy Committee meeting for the year had initially been slated to start on July 28, with the rate decision expected on July 30. At a Thursday event in the capital, Accra, the central bank governor said that members of the MPC had not discussed the policy rate at the emergency meeting. They met to "review numbers and also take stock of some of the developments in the markets to get a sense of what is going on and what our options are ahead of their meeting," Asiama said. The governor added that the Monetary Policy Committee will reconvene in 10 days to work on a policy statement. The Bank of Ghana last held a scheduled MPC meeting in May, where it opted to maintain the policy rate at 28.0%, maintaining its tight monetary policy as inflationary pressures continued to ease due to exchange rate stability and fiscal consolidation. Ghana's consumer price inflation slowed for the sixth month in a row to 13.7% in June, its lowest level since 2021, while the bellwether producer price inflation fell to 5.9% year-on-year in June compared with 10.2% the previous month. The finance minister is expected to present the cocoa-, gold-, and oil-producing West African nation's mid-year fiscal policy review on July 24.
Bloomberg
6 days ago
- Business
- Bloomberg
Indonesia Rate Cut, Trade Deal to Support Growth, Analysts Say
Bank Indonesia's policy rate cut will spur the nation's economic growth as it announces a trade deal with the US, with future monetary easing depending on rupiah's stability, according to analysts. The central bank cut its benchmark interest rate by 25 basis points to 5.25% on Wednesday to shore up growth, after US President Donald Trump announced a 19% tariff on goods from the Southeast Asian economy. The decision was expected by 15 of 33 economists surveyed by Bloomberg News.
CNA
19-06-2025
- Business
- CNA
Taiwan leaves benchmark interest rate unchanged, as expected
TAIPEI :Taiwan's central bank held its policy rate steady on Thursday, as expected, due to the strong performance of the tech-focused economy and subdued inflation. The central bank left the benchmark discount rate at 2 per cent, which was anticipated by 29 out of 30 economists surveyed in a Reuters poll.
Wall Street Journal
18-06-2025
- Business
- Wall Street Journal
Sweden's Central Bank Cuts Rate Amid Economic Uncertainty
STOCKHOLM–Sweden's central bank cut its key policy rate to 2% Wednesday and said there was a small chance of further easing later this year if economic weakness persists and inflation falls further. The decision was in line with a Wall Street Journal poll.
Arab News
16-06-2025
- Business
- Arab News
Pakistan holds key rate at 11 percent as Mideast conflict overshadows growth push
ISLAMABAD: Pakistan's central bank kept its key policy rate unchanged at 11 percent on Monday, maintaining a cautious stance as heightened geopolitical tensions and volatile global oil prices add new risks to inflation and the fragile external sector. A Reuters poll released earlier on Monday had shown analysts revising their expectations for a rate cut in light of Israel's military strikes on Iran that began on Friday and have since intensified, pushing up global commodity prices. 'The [Monetary Policy] Committee noted some potential risks to the external sector amidst the sustained widening in the trade deficit and weak financial inflows. Moreover, some of the proposed FY26 budgetary measures may further widen the trade deficit by increasing imports,' the central bank said, announcing its decision to leave the rate unchanged. 'In this regard, the Committee deemed today's decision appropriate to sustain the macroeconomic and price stability.' Inflation in Pakistan has slowed markedly since peaking at around 40 percent in May 2023. However, last month it rose to 3.5 percent year-on-year, above the finance ministry's projection of up to 2 percent, partly due to the fading of favorable base effects. The central bank projects average inflation between 5.5 percent and 7.5 percent for the fiscal year ending this month. The bank paused its easing cycle in March, following cumulative cuts totaling 1,000 basis points from a record high of 22 percent, and resumed it with a 100-basis-point reduction in May. Monday's meeting came days after the government presented a tight annual budget, which increased defense spending by 20 percent but reduced overall expenditure by 7 percent. It projects GDP growth at 4.2 percent for the next fiscal year, up from a provisional estimate of 2.7 percent for the current year. The MPC noted that despite the widening trade deficit, the current account remained broadly balanced in April, and foreign exchange reserves rose to $11.7 billion as of June 6 after the completion of the first review under the International Monetary Fund's Extended Fund Facility. Revised budget estimates show the primary surplus at 2.2 percent of GDP for FY25, up from 0.9 percent last year, with a higher target of 2.4 percent for the upcoming fiscal year. Global oil prices have rebounded sharply, driven by the evolving Middle East crisis and some easing of US-China trade tensions, the MPC noted. 'Taking stock of these developments and potential risks, the Committee assessed that the real interest rate remains adequately positive to stabilize inflation within the target range of 5–7 percent,' the statement said. It added that timely foreign inflows, planned fiscal consolidation, and structural reforms remained essential to maintain macroeconomic stability and achieve sustainable growth.
