Central Bank Hub
Your one-stop-shop guide to our extensive insight into global monetary policymaking. Here you'll find links to our latest research, as well as policy rate and balance sheet forecasts, for the world's major developed and emerging market central banks.
Click on the country/economy name to view the latest central bank research
|Links to latest research||Next meeting||Policy rate (%)||Next change||End-2022 (%)||End-2023 (%)||End-2024 (%)||Balance sheet|
|US||2 Nov.||3.00-3.25||+75bp (Nov. 2022)||4.25- 4.50||4.00-4.25||2.75-3.00||Balance sheet run-off has begun. Pace to reach $120bn per month next year|
|Euro-zone||27 Oct.||0.75||+75bp (Oct. 2022)||2.00||2.00||1.50||ECB will need to use its new Transmission Protection Instrument to keep peripheral spreads under control|
|Japan||28 Oct.||-0.10||None on horizon||-0.10||-0.10||-0.10||Balance sheet will shrink slightly as emergency loans are repaid and continued large gross bond purchases are broadly offset by bond redemptions|
|UK||3 Nov.||2.25||+50bp (Nov. 2022)||3.25||4.00||3.00||BoE selling £10bn of gilts per quarter|
|Canada||26 Oct.||3.25||+50bp (Oct. 2022)||4.00||3.00||2.50||Stopped reinvesting maturing bonds in April. With 40% of the Bank’s holdings set to mature within two years, active bond sales are unlikely.|
|Australia||4 Oct.||2.35||+50bp (Oct. 2022)||3.35||3.35||3.10||Bank will allow bond holdings to run off, but no outright sales.|
|Switzerland||15 Dec.||0.5||+50bp (Dec. 2022)||1.00||1.25||0.75||Very little anticipated, unless franc appreciates|
+75bp (Nov. 2022)
|2.00||2.00||1.50||Asset sales to begin by end-2022|
|Denmark||–||0.65||+35bp (Sep. 2022)||1.90||1.90||1.25||–|
|Norway||3 Nov.||2.25||+50bp (Nov. 2022)||2.50||2.50||2.25||–|
|New Zealand||23 Nov.||3.00||+50bp (Nov. 2022)||3.75||3.50||3.25||RBNZ to sell $5bn of it bond holdings every fiscal year|
|China||20 Oct.||2.00||-20bp (Dec. 2022)||1.80||1.80||1.80||–|
|India||30 Sep.||5.40||+50bp (Sep. 2022)||6.15||6.40||6.40||–|
|Brazil||7 Dec.||13.75||None on horizon||13.75||11.00||7.50||–|
|Russia||28 Oct.||8.50||-50bp (Oct. 2022)||7.00||5.50||5.50||–|
|Mexico||29 Sep.||8.50||+50bp (Sep. 2022)||10.00||9.50||8.50||–|
|South Korea||14 Oct.||2.50||+25bp (Oct. 2022)||3.00||2.50||2.25||–|
|Turkey||20 Oct||12.00||-50bp (Oct. 2022)||11.50||28.00||28.00||–|
|Indonesia||20 Oct.||3.75||+75bp (Q4 2022)||4.50||5.00||4.50||–|
|6.75||+25bp (Oct. 2022)||6.75||6.25||5.00||–|
|South Africa||24 Nov.||6.25||+50bp (Nov. 2022)||6.75||7.75||6.75||–|
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