The Central Reserve Bank of Peru raised its reference rate by 25 basis points to 4.50% for November 2026 amid supply shocks, elevated inflation expectations and robust domestic demand, with annual headline inflation reaching 5.3% in October. The bank stressed that the increase does not necessarily mark the start of successive rate rises.
The National Bank of Romania held its policy rate at 6.50%, lending and deposit facility rates at 7.50% and 5.50%, respectively, and reserve requirement ratios unchanged. Annual inflation rose to 6.94% in October 2026 and is projected to increase slightly further before gradually declining and returning to the target band in the first quarter of 2028.
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.
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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 Bank of Albania reported that the banking system remains stable and that the nonperforming loan ratio has reached a record low of 3.7%. In talks with the European Bank for Reconstruction and Development, it also reviewed cooperation on climate risk, money markets, EU regulatory alignment and access to finance.
The Czech National Bank said June annual inflation fell unexpectedly to 1.5% from 2.1%, below its 2.1% spring forecast, mainly because food prices dropped sharply and fuel prices partially corrected. Core inflation eased only slightly to 2.8%, and the bank said persistent services inflation and stronger global inflation pressures still warrant caution. It expects headline inflation to remain around 2% in the second half of 2026 and slightly above that level at year-end.
The Bank of Israel said Governor Amir Yaron and the Monetary Committee held their quarterly meeting with external forecasters on inflation, interest rate and exchange rate projections. The session included remarks on recent developments and a presentation of the Research Department's July 6, 2026 assessment published with the latest interest rate announcement. Forecasters then shared their own assessments.
The Central Bank of Russia said RUONIA fell in June after the key rate cut, while market-based loan and deposit rates continued to decline in May. By end-June, however, money market rates and OFZ yields had risen sharply at medium and long maturities as policy expectations shifted, tightening conditions in those segments. Money supply growth also accelerated, supported by corporate lending, retail lending and budgetary operations.
The Central Bank of Egypt said annual urban headline inflation eased to 14.3% in June 2026 from 14.6% in May, while monthly urban prices fell 0.4%. Annual core inflation rose to 14.3% from 13.8%, with monthly core prices up 0.3%. The bank said its detailed monthly inflation analysis will follow on July 15, 2026.
The Central Bank of Barbados said it will publish its review of the economy for the first half of 2026 at a press conference on July 29. Governor Kevin Greenidge will cover growth, debt-to-GDP, reserves, inflation and unemployment, and give an outlook for the rest of 2026. The event will be livestreamed and followed by questions from media and the public.
The People's Bank of China Monetary Policy Committee said it will continue a moderately loose monetary policy stance and increase countercyclical and cross-cyclical adjustment. Priorities include ample liquidity, stronger policy rate transmission, lower financing costs, monitoring long-term bond yields and keeping the renminbi basically stable. It also called for targeted support for domestic demand, innovation, small businesses and the private sector.
De Nederlandsche Bank published an economist blog saying the current energy shock still warrants close monitoring, even though consumer pressure has eased as energy prices have fallen. The blog argues this episode is less inflationary than the 2022 crisis because gas prices are much lower, supply chains are functioning better and the economy is not overheated. It also notes Brent crude remains about 20% above the level at the end of last year.
The Bank of Albania said First Deputy Governor Holta Zaçaj used the IMF and World Bank Constituency meeting in Lisbon to present Albania’s economic outlook and policy priorities. She described growth as solid, inflation as near target and the banking sector as well capitalized and liquid, while also saying the central bank plans an internal artificial intelligence framework aligned with European Union standards. SEPA transfers were highlighted as a step toward deeper European financial integration.
The Central Bank of Estonia said annual inflation slowed to 2.3% in June, with energy and fuels providing the main upward pressure while food prices fell broadly and overall prices dropped 0.5% from the previous month. It attributed part of the slowdown to base effects from last year's VAT-related price rises and said inflation in coming months should be similar to or below the June rate. The bank expects full-year inflation of 3.4%.
The Central Bank of the Philippines said loan growth at universal and commercial banks accelerated to 12.1 percent year on year in May, with resident loans up 12.6 percent. Business lending rose 11.7 percent, while consumer lending increased 19.0 percent but slowed slightly from the previous month. The central bank said it will continue to monitor lending conditions as part of its price and financial stability mandate.
The Central Bank of the Philippines said headline inflation slowed to 6.4 percent in June from 6.8 percent in May, driven mainly by lower fuel and food prices. First-half average inflation still reached 4.8 percent, above the 3.0 percent target, while core inflation rose to 4.4 percent. The central bank said inflation is likely to remain elevated in the near term and it stands ready to tighten policy further if needed.
The Central Reserve Bank of Peru raised its reference rate by 25 basis points to 4.50% for November 2026 amid supply shocks, elevated inflation expectations and robust domestic demand, with annual headline inflation reaching 5.3% in October. The bank stressed that the increase does not necessarily mark the start of successive rate rises.
The National Bank of Romania held its policy rate at 6.50%, lending and deposit facility rates at 7.50% and 5.50%, respectively, and reserve requirement ratios unchanged. Annual inflation rose to 6.94% in October 2026 and is projected to increase slightly further before gradually declining and returning to the target band in the first quarter of 2028.
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.
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 Bank of Albania reported that the banking system remains stable and that the nonperforming loan ratio has reached a record low of 3.7%. In talks with the European Bank for Reconstruction and Development, it also reviewed cooperation on climate risk, money markets, EU regulatory alignment and access to finance.
The Czech National Bank said June annual inflation fell unexpectedly to 1.5% from 2.1%, below its 2.1% spring forecast, mainly because food prices dropped sharply and fuel prices partially corrected. Core inflation eased only slightly to 2.8%, and the bank said persistent services inflation and stronger global inflation pressures still warrant caution. It expects headline inflation to remain around 2% in the second half of 2026 and slightly above that level at year-end.
The Bank of Israel said Governor Amir Yaron and the Monetary Committee held their quarterly meeting with external forecasters on inflation, interest rate and exchange rate projections. The session included remarks on recent developments and a presentation of the Research Department's July 6, 2026 assessment published with the latest interest rate announcement. Forecasters then shared their own assessments.
The Central Bank of Russia said RUONIA fell in June after the key rate cut, while market-based loan and deposit rates continued to decline in May. By end-June, however, money market rates and OFZ yields had risen sharply at medium and long maturities as policy expectations shifted, tightening conditions in those segments. Money supply growth also accelerated, supported by corporate lending, retail lending and budgetary operations.
The Central Bank of Egypt said annual urban headline inflation eased to 14.3% in June 2026 from 14.6% in May, while monthly urban prices fell 0.4%. Annual core inflation rose to 14.3% from 13.8%, with monthly core prices up 0.3%. The bank said its detailed monthly inflation analysis will follow on July 15, 2026.
The Central Bank of Barbados said it will publish its review of the economy for the first half of 2026 at a press conference on July 29. Governor Kevin Greenidge will cover growth, debt-to-GDP, reserves, inflation and unemployment, and give an outlook for the rest of 2026. The event will be livestreamed and followed by questions from media and the public.
The People's Bank of China Monetary Policy Committee said it will continue a moderately loose monetary policy stance and increase countercyclical and cross-cyclical adjustment. Priorities include ample liquidity, stronger policy rate transmission, lower financing costs, monitoring long-term bond yields and keeping the renminbi basically stable. It also called for targeted support for domestic demand, innovation, small businesses and the private sector.
De Nederlandsche Bank published an economist blog saying the current energy shock still warrants close monitoring, even though consumer pressure has eased as energy prices have fallen. The blog argues this episode is less inflationary than the 2022 crisis because gas prices are much lower, supply chains are functioning better and the economy is not overheated. It also notes Brent crude remains about 20% above the level at the end of last year.
The Bank of Albania said First Deputy Governor Holta Zaçaj used the IMF and World Bank Constituency meeting in Lisbon to present Albania’s economic outlook and policy priorities. She described growth as solid, inflation as near target and the banking sector as well capitalized and liquid, while also saying the central bank plans an internal artificial intelligence framework aligned with European Union standards. SEPA transfers were highlighted as a step toward deeper European financial integration.
The Central Bank of Estonia said annual inflation slowed to 2.3% in June, with energy and fuels providing the main upward pressure while food prices fell broadly and overall prices dropped 0.5% from the previous month. It attributed part of the slowdown to base effects from last year's VAT-related price rises and said inflation in coming months should be similar to or below the June rate. The bank expects full-year inflation of 3.4%.
The Central Bank of the Philippines said loan growth at universal and commercial banks accelerated to 12.1 percent year on year in May, with resident loans up 12.6 percent. Business lending rose 11.7 percent, while consumer lending increased 19.0 percent but slowed slightly from the previous month. The central bank said it will continue to monitor lending conditions as part of its price and financial stability mandate.
The Central Bank of the Philippines said headline inflation slowed to 6.4 percent in June from 6.8 percent in May, driven mainly by lower fuel and food prices. First-half average inflation still reached 4.8 percent, above the 3.0 percent target, while core inflation rose to 4.4 percent. The central bank said inflation is likely to remain elevated in the near term and it stands ready to tighten policy further if needed.