Central Bank Watch
Follow every monetary policy meeting of the major central banks (Fed, ECB, BOJ, BOE, RBA). After each meeting, we summarise the decision, the outlook for the next meeting, and the market impact. The latest article always appears at the top.
10 articles
BOEThe BOE held at 3.75%. Hike votes rose to "2."
The Bank of England held Bank Rate at 3.75% (7–2). Both dissenters voted for a 0.25% hike, lifting the hawkish camp from one in April to two. CPI eased to 2.8%, but the BoE warned it will climb again later in 2026 as energy feeds through.
FRBThe Fed held rates for a fourth straight meeting.
The FOMC kept the fed funds rate at 3.50–3.75%. With CPI re-accelerating to +4.2%, new Chair Warsh's first meeting opted for a hold. Attention shifted to a dot plot reflecting a retreat in the rate-cut outlook.
BOJBOJ raises its policy rate to 1.0% — a 31-year high.
At its June 16 meeting, the BOJ raised the policy rate from 0.75% to around 1.0%. At 1.0%, it is the highest in about 31 years, since 1995. With Governor Ueda absent due to hospitalization, the historic hike was decided 7 in favor and 1 against.
RBAThe RBA turns from cuts. Three hikes, then a hold.
The Reserve Bank of Australia kept the cash rate at 4.35% in a unanimous hold. It is a breather after three straight hikes in February, March and May of 2026, with underlying inflation at +3.4% leaving the door open to further hikes.
ECBThe ECB turned to its first hike in three years.
The ECB raised the deposit rate from 2.00% to 2.25% (effective Jun 17). It is the first hike in about three years, since September 2023, responding to HICP re-accelerating to +3.2% on higher energy costs tied to Middle East tensions.
RBARBA hikes for a third straight meeting. The rate is back at 4.35%.
The Reserve Bank of Australia raised the cash rate from 4.10% to 4.35% (8 to 1). The third straight hike, after February and March, returned the rate to the same level as its 2023 peak.