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Monetary policy

  • Thursday, 1 August, 2024
    The FT ViewThe editorial board
    A momentous week for central banks

    The rate-cutting cycle is unlikely to be a smooth ride down

    Chair of the U.S. Federal Reserve Jerome Powell and Governor of the Bank of England Andrew Bailey
  • Thursday, 1 August, 2024
    UK interest rates
    BoE lowers rates to 5% in first cut since 2020

    Knife-edge vote marks boost to Labour government’s promise to kick-start economic growth

    Line chart showing Bank of England’s interest rate decisions since 2020
  • Tuesday, 23 July, 2024
    Chris Giles on Central Banks
    How will the Fed and ECB change their monetary strategies? Premium content

    The fate of FAIT and a fait accompli

    A photo showing US dollar bills in a pile
  • Friday, 19 July, 2024
    Eurozone inflation
    ECB surveys signal September cut as signs of easing inflation mount

    Rate-setters’ confidence that they will hit 2% goal indicates rate reduction at next policy vote is increasingly likely

    People cross a street in front of the headquarters of the European Central Bank in Frankfurt
  • Thursday, 18 July, 2024
    Eurozone interest rates
    ECB keeps interest rate at 3.75%

    Christine Lagarde says September rate cut decision is ‘wide open’

    The ECB building in Frankfurt
  • Thursday, 18 July, 2024
    UK economy
    Bank of England faces at least six more months without crucial jobs data

    Delay causes problems for policymakers making interest rate decisions with only limited details about state of UK workforce

    Commuters walking over London Bridge
  • Monday, 15 July, 2024
    News in-depthEurozone interest rates
    French fiscal doubts strengthen ECB reluctance to repeat rate cut signal

    Rate-setters warn lax fiscal policy could revive inflation and complicate efforts to lower borrowing costs

    Supporters of the New Popular Front gather at the Place de la République in Paris, France
  • Tuesday, 9 July, 2024
    US inflation
    US Fed chair Powell hails ‘considerable progress’ in tackling inflation

    Central bank underscores that next US interest rate move is likely to be a cut

    Jay Powell
  • Monday, 8 July, 2024
    Markets InsightMohamed El-Erian
    What the Fed should put on the Jackson Hole agenda

    Central bank should use the summer to address issues key to America’s economic wellbeing and global financial stability

    Jay Powell at last year’s Jackson Hole meeting
  • Friday, 5 July, 2024
    Irish economy
    Ireland’s central bank chief warns Dublin against pre-election giveaways

    Gabriel Makhlouf says using vast budget surplus to fund cost-of-living relief would risk stoking inflation

    Gabriel Makhlouf
  • Thursday, 4 July, 2024
    European Central Bank
    ECB minutes reveal doubts over rate cut

    Move to lower borrowing costs concerned many policymakers as inflation and wages moved in opposite direction

    Christine Lagarde
  • Thursday, 4 July, 2024
    Free LunchMartin Sandbu
    Questions in the wake of the global inflation hit Premium content

    There is still too much we do not know about what happened and why

    A woman shops in a supermarket
  • Sunday, 30 June, 2024
    Global inflation
    Central banks should set a ‘high bar’ for interest rate cuts, BIS warns

    Umbrella body for central banks highlights risk of flare-up in services prices and wage growth

    BIS general manager Agustín Carstens
  • Tuesday, 25 June, 2024
    Chris Giles on Central Banks
    Was QE worth it? Premium content

    Quantitative easing appears to have cost British taxpayers at least twice as much as equivalents in the US, Europe and other advanced economies

    ECB president Christine Lagarde, BoE governor Andrew Bailey and US Fed chair Jay Powell
  • Friday, 21 June, 2024
    US Treasury bonds
    US borrowing binge risks market strains, analysts warn

    Federal Reserve may be forced to end quantitative tightening early, as stock of Treasury bills forecast to soar above $6tn

    Person walks by the Federal Reserve building
  • Thursday, 20 June, 2024
    Swiss National Bank
    Swiss central bank cuts interest rates for the second time this year

    Chair Thomas Jordan signals SNB is ready to intervene in currency markets to stem gains in the franc

    A visitor arrives at the Swiss National Bank offices in Zurich
  • Tuesday, 18 June, 2024
    Chris Giles on Central Banks
    How to understand central bank QE losses Premium content

    They are real, whether countries choose to pay upfront or brush them under a giant rug

    Montage of central bank buildings
  • Tuesday, 18 June, 2024
    Markets InsightMohamed El-Erian
    Fed needs to cut interest rates sooner rather than later

    Delay by US central bank in easing monetary policy could jeopardise soft economic landing

    Federal Reserve chair Jay Powell
  • Thursday, 13 June, 2024
    Unhedged
    The Fed refuses to celebrate Premium content

    For good reason

    A montage of Fed chair Jay Powell
  • Wednesday, 12 June, 2024
    Federal Reserve
    Fed officials signal just one rate cut before end of 2024

    Hawkish message comes as US central bank holds rates at 23-year high and raises forecast for inflation

    Jay Powell
  • Monday, 10 June, 2024
    Eurozone interest rates
    Lagarde says ECB can keep rates on hold as long as needed

    Eurozone policymakers not following ‘pre-determined path’ after recent cut, says president

    Christine Lagarde
  • Sunday, 9 June, 2024
    Federal Reserve
    What will be the Fed’s long-term outlook for interest rates?

    Market Questions is the FT’s guide to the week ahead

    Exterior of Federal Reserve
  • Saturday, 8 June, 2024
    Adam Posen
    The curious case of central bank convergence

    We shouldn’t let debates about who cuts rates and when distract us from the bigger picture

    Tim Macklem stands in front of three Canadian flags at a press conference
  • Friday, 7 June, 2024
    Eurozone economy
    ECB policymakers warn against ‘autopilot’ approach to more rate cuts

    Bundesbank chief Joachim Nagel urges caution after borrowing costs were lowered for first time in 5 years

    Joachim Nagel, the president of the Bundesbank
  • Thursday, 6 June, 2024
    Eurozone interest rates
    ECB cuts interest rates for first time in 5 years

    Officials warns further reductions will depend on inflation easing

    The ECB building next to containers in Frankfurt
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