The National Bank of Serbia raised its key policy rate by 25 basis points to 6% to curb second-round effects from the energy shock, alongside increases in deposit and lending facility rates to 4.75% and 7.25%, respectively. It expects inflation to exceed the upper bound of its 3±1.5% target band in 2027 before returning within the band by year-end.
The Bank of Mauritius’s Monetary Policy Committee unanimously raised the Key Rate by 25 basis points to 5.00% per annum, citing risks of inflation becoming entrenched above target despite downside risks to growth. Headline inflation is projected to exceed the 2–5% target range in 2027, while real gross domestic product growth is forecast at 3.0% in 2026.
The Bank of Uganda held its Central Bank Rate at 12% for November 2026, judging financial conditions sufficiently tight despite a higher inflation outlook and weakening growth. It widened the rate’s band to ±3 from ±2 percentage points and raised the rediscount and bank rates to 16% and 17%, respectively.
The Central Bank of Mexico’s Governing Board voted by majority for a one-time 25-basis-point cut in its overnight interbank interest rate target to 6.25%, effective November 6, 2026, citing continued disinflation and economic slack. It signalled an extended hold at this level to support inflation convergence to its 3% target, still expected in the fourth quarter of 2027.
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Disclaimer: Summaries are created using generative AI and may contain inaccuracies. Please refer to the original source for authoritative information.
The Reserve Bank of Australia examines the input-cost drivers of recent consumer inflation and the gradual internationalisation of the Chinese renminbi.
Sveriges Riksbank Deputy Governor Göran Hjelm assessed the current policy rate as slightly expansionary and saw scope to continue supporting the Swedish economy. He nevertheless said escalation in the Middle East and associated price pressures warrant some probability of a rate increase over the year.
The Central Bank of Russia reported that annual M2X growth slowed to 12.6% in July, while monthly growth was unchanged from June. Credit growth accelerated and remained the main source of money supply, as the positive contribution from fiscal operations declined.
The Czech National Bank’s August analyst survey shows most respondents expect the two-week repo rate to remain at 3.75% at the next meeting and in one year. The three-year inflation forecast eased to 2.1%, while the one-year estimate stayed at 2.6%. Analysts lowered their 2026 growth forecast to 2.0% and raised their nominal wage growth forecast to 7.0%.
Norges Bank Governor Ida Wolden Bache said a policy rate increase may still be needed because inflation remains clearly above the 2% target despite a weaker-than-expected summer reading. New forecasts are due in about one month, while the bank expects only limited rate reductions once inflation moves toward target.
The Central Bank of the Philippines welcomed R&I’s affirmation of the country’s A-minus investment-grade rating with a stable outlook. It remains focused on bringing inflation closer to the 3% target through a forward-looking, data-driven policy approach.
The National Bank of Denmark will present a new forecast for the Danish economy at a livestreamed press conference on September 23, 2026.
The Central Bank of Egypt has published its second-quarter 2026 monetary policy report, including its outlook for key economic variables and prevailing risks. The report examines inflation, economic and fiscal conditions, exchange rate pass-through and the neutral real interest rate.
Reserve Bank of Australia Deputy Governor Andrew Hauser warned that another interest rate increase may be required if inflation does not fall and upside risks materialize. Rates were judged appropriate for now after three increases in 2026, but risks remain from energy prices, the global technology boom and weak domestic supply growth. The RBA forecasts slower but continued growth in consumption and employment.
The National Bank of Serbia raised its 2026 GDP growth forecast to 3.2% and lowered its average inflation forecast to 3.2%. Inflation is expected to remain within the target band over the next two years, while the key policy rate remains at 5.75% amid geopolitical and energy-price risks.
The National Bank of Serbia lowered its 2026 average inflation forecast to 3.2%, raised its GDP growth projection to 3.2% and expects inflation to remain within the target tolerance band. It kept the key policy rate at 5.75% amid geopolitical and energy-price risks. The projected current account deficit was reduced to around 4% of GDP.
Central Bank of Peru Governor Julio Velarde highlighted low inflation and the importance of technically grounded monetary policy after receiving an honorary doctorate. He also emphasized merit-based recruitment, civil service improvement and education.
The National Bank of Serbia raised its key policy rate by 25 basis points to 6% to curb second-round effects from the energy shock, alongside increases in deposit and lending facility rates to 4.75% and 7.25%, respectively. It expects inflation to exceed the upper bound of its 3±1.5% target band in 2027 before returning within the band by year-end.
The Bank of Mauritius’s Monetary Policy Committee unanimously raised the Key Rate by 25 basis points to 5.00% per annum, citing risks of inflation becoming entrenched above target despite downside risks to growth. Headline inflation is projected to exceed the 2–5% target range in 2027, while real gross domestic product growth is forecast at 3.0% in 2026.
The Bank of Uganda held its Central Bank Rate at 12% for November 2026, judging financial conditions sufficiently tight despite a higher inflation outlook and weakening growth. It widened the rate’s band to ±3 from ±2 percentage points and raised the rediscount and bank rates to 16% and 17%, respectively.
The Central Bank of Mexico’s Governing Board voted by majority for a one-time 25-basis-point cut in its overnight interbank interest rate target to 6.25%, effective November 6, 2026, citing continued disinflation and economic slack. It signalled an extended hold at this level to support inflation convergence to its 3% target, still expected in the fourth quarter of 2027.
The National Bank of Moldova raised its base rate by 200 basis points to 11%, citing intensifying inflationary pressures, robust domestic demand and an upwardly revised inflation outlook. Annual inflation reached 8.6% in September and is expected to return within the 5% target’s ±1.5 percentage point tolerance band in the third quarter of 2027.
The Bank of England’s Monetary Policy Committee raised Bank Rate by 25 basis points to 4% in November 2026 in an eight-to-one vote, citing higher energy prices and stronger-than-expected activity. Consumer price index inflation was projected to reach around 5% in the second quarter of 2027, with the committee warning of increased risks of second-round effects.
Norges Bank held its policy rate at 4.5%, with September consumer price inflation at 3.4%, above the 2% target. Its Monetary Policy and Financial Stability Committee signalled that the rate would likely remain elevated for some time and could rise further if warranted by the inflation outlook.
The Central Bank of Malaysia’s Monetary Policy Committee held the Overnight Policy Rate at 2.75%, judging it consistent with price stability and sustainable growth. The bank expects growth above 5% in 2026, up from around 5% projected in September, while inflation is expected to edge higher in 2027 but remain contained.
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.
The Reserve Bank of Australia examines the input-cost drivers of recent consumer inflation and the gradual internationalisation of the Chinese renminbi.
Sveriges Riksbank Deputy Governor Göran Hjelm assessed the current policy rate as slightly expansionary and saw scope to continue supporting the Swedish economy. He nevertheless said escalation in the Middle East and associated price pressures warrant some probability of a rate increase over the year.
The Central Bank of Russia reported that annual M2X growth slowed to 12.6% in July, while monthly growth was unchanged from June. Credit growth accelerated and remained the main source of money supply, as the positive contribution from fiscal operations declined.
The Czech National Bank’s August analyst survey shows most respondents expect the two-week repo rate to remain at 3.75% at the next meeting and in one year. The three-year inflation forecast eased to 2.1%, while the one-year estimate stayed at 2.6%. Analysts lowered their 2026 growth forecast to 2.0% and raised their nominal wage growth forecast to 7.0%.
Norges Bank Governor Ida Wolden Bache said a policy rate increase may still be needed because inflation remains clearly above the 2% target despite a weaker-than-expected summer reading. New forecasts are due in about one month, while the bank expects only limited rate reductions once inflation moves toward target.
The Central Bank of the Philippines welcomed R&I’s affirmation of the country’s A-minus investment-grade rating with a stable outlook. It remains focused on bringing inflation closer to the 3% target through a forward-looking, data-driven policy approach.
The National Bank of Denmark will present a new forecast for the Danish economy at a livestreamed press conference on September 23, 2026.
The Central Bank of Egypt has published its second-quarter 2026 monetary policy report, including its outlook for key economic variables and prevailing risks. The report examines inflation, economic and fiscal conditions, exchange rate pass-through and the neutral real interest rate.
Reserve Bank of Australia Deputy Governor Andrew Hauser warned that another interest rate increase may be required if inflation does not fall and upside risks materialize. Rates were judged appropriate for now after three increases in 2026, but risks remain from energy prices, the global technology boom and weak domestic supply growth. The RBA forecasts slower but continued growth in consumption and employment.
The National Bank of Serbia raised its 2026 GDP growth forecast to 3.2% and lowered its average inflation forecast to 3.2%. Inflation is expected to remain within the target band over the next two years, while the key policy rate remains at 5.75% amid geopolitical and energy-price risks.
The National Bank of Serbia lowered its 2026 average inflation forecast to 3.2%, raised its GDP growth projection to 3.2% and expects inflation to remain within the target tolerance band. It kept the key policy rate at 5.75% amid geopolitical and energy-price risks. The projected current account deficit was reduced to around 4% of GDP.
Central Bank of Peru Governor Julio Velarde highlighted low inflation and the importance of technically grounded monetary policy after receiving an honorary doctorate. He also emphasized merit-based recruitment, civil service improvement and education.