Macro Intelligence
FX & Macro News
Central Bank Decisions
European Central Bank Maintains Interest Rate at 2.65%
The European Central Bank concluded its latest policy meeting on October 29, 2026, opting to hold its benchmark interest rate steady at 2.65%.
29 Oct 2026
Latest Intelligence
Inflation
US Manufacturing Data Signals Sustained Inflationary Pressures
01 Oct 2026
Central Bank Decisions
Colombia Central Bank Delivers Unexpected Rate Hike
01 Oct 2026
Bond Yields
Sovereign Bond Markets Face Worst Monthly Performance in Years Amid Energy-Driven Inflation
29 Sep 2026
Central Bank Decisions
Bank of England Maintains Bank Rate at 3.75%
26 Sep 2026
Central Bank Decisions
Bank of England Maintains Bank Rate at 3.75% in September Decision
The Monetary Policy Committee voted by a majority of 6-3 to keep the Bank Rate unchanged at 3.75% during its September 2026 meeting.
26 Sep 2026
Central Bank Guidance
Federal Reserve Official Signals Continued Tightening Bias
Federal Reserve Governor Barr stated that further interest rate increases are likely necessary to ensure inflation returns to the 2% target in a timely manner.
24 Sep 2026 07:05 GMT
Central Bank Decisions
Norges Bank Maintains Policy Rate at 4.25%
Norges Bank held its policy rate steady at 4.25% during its September 24, 2026, monetary policy meeting, opting to keep borrowing costs unchanged.
24 Sep 2026
Central Bank Guidance
National Bank of Canada Accelerates Rate Hike Expectations
National Bank of Canada has adjusted its monetary policy outlook, pulling forward its expectation for a Bank of Canada interest rate hike from January to December 2026.
23 Sep 2026
Bond Yields
US Treasury Yields Retreat from Multi-Year Highs
Following a period of significant upward pressure, US Treasury yields have surrendered recent gains, providing relief to global equity markets and supporting a shift in risk sentiment.
22 Sep 2026
Central Bank Decisions
Swiss National Bank Maintains Key Interest Rate at 0%
The Swiss National Bank held its benchmark interest rate at 0%, diverging from the tightening cycles observed among other major central banks including the Federal Reserve, ECB, and Bank of Japan.
22 Sep 2026
Commodities
Brent Crude Prices Retreat from Recent Peaks
Global crude oil prices, including Brent, have cooled off following a period of sharp gains, contributing to a stabilization in broader financial markets.
22 Sep 2026
Central Bank Decisions
Bank of Japan Rate Hike Fails to Stem Yen Depreciation
The Bank of Japan raised its benchmark interest rate by 25 basis points to 1.25%, a 31-year high, but the Japanese Yen weakened past 157 against the US Dollar as the decision lacked hawkish forward guidance.
18 Sep 2026
Central Bank Decisions
Bank of Japan Raises Benchmark Interest Rate to 1.25%
The Bank of Japan has increased its benchmark interest rate to 1.25%, marking a significant shift in its monetary policy stance.
18 Sep 2026
Central Bank
Global Markets Stabilize Ahead of Federal Reserve Policy Decision
Global equity markets have ticked higher and government bond yields have paused their recent ascent as investors position themselves ahead of the Federal Reserve's interest rate announcement scheduled for September 16.
16 Sep 2026
Central Bank Decisions
Federal Reserve Expected to Implement 25 Basis Point Rate Hike
Markets are pricing in a 25 basis point interest rate increase by the Federal Reserve at the conclusion of its September 16 policy meeting, marking the first hike since 2023 as the central bank continues to address inflation levels remaining above its 2% target.
15 Sep 2026
central_bank
Central Reserve Bank of Peru Holds Policy Rate Amid Middle East War Inflation Risks
The Central Reserve Bank of Peru kept its benchmark interest rate unchanged, citing elevated upside inflation risks driven by geopolitical conflict in the Middle East and the El Niño climate phenomenon. Policymakers stressed that energy and supply shock risks necessitate a cautious monetary policy stance.
11 Sep 2026
Inflation
ECB Revises 2026 Growth and Inflation Projections
The European Central Bank updated its staff projections, forecasting 2026 headline inflation at 3.0% and GDP growth at 0.9%. Inflation projections for 2027 and 2028 were revised upward compared to June estimates.
10 Sep 2026
Central Bank Decisions
European Central Bank Raises Key Interest Rates by 25 Basis Points
The ECB Governing Council increased its three key interest rates by 25 basis points, effective September 16, 2026, citing persistent inflation pressures stemming from the Middle East conflict. The deposit facility rate rises to 2.50%, the main refinancing operations rate to 2.65%, and the marginal lending facility to 2.90%.
10 Sep 2026
Inflation
US Producer Price Index Accelerates to 5.4% Year-Over-Year in August
The US Producer Price Index rose 0.4% month-over-month in August, bringing the annual headline rate to 5.4% from 4.8% in July and exceeding consensus forecasts of 5.3%. Core PPI climbed 4.6% year-over-year, up from 4.3% in July, reflecting broad-based pipeline pipeline cost pressures driven by higher commodity inputs and transport costs. The hotter-than-expected factory-gate inflation data pushed market-implied probabilities for an interest rate hike at the upcoming Federal Reserve policy meeting above 65%.
10 Sep 2026
Central Banks
ECB Delivers 25 Basis Point Rate Hike to 2.65% Amid Surging Energy Prices
The European Central Bank raised its benchmark interest rates by 25 basis points on September 10, taking the main refinancing rate to 2.65% and the deposit facility rate to 2.50%. The Governing Council noted that headline eurozone inflation accelerated to 3.3% year-over-year in August, driven largely by resurgent energy prices and ongoing Middle East supply disruptions. The ECB revised its 2026 and 2027 GDP growth and inflation projections modestly higher following stronger-than-expected Q2 GDP expansion of 0.6%, reinforcing its commitment to a data-dependent, meeting-by-meeting approach.
10 Sep 2026
Bonds
US Treasury $6 Billion Long-Bond Buyback Operation Underwhelms Markets
The US Department of the Treasury conducted an expanded long-term bond buyback operation totaling up to $6 billion targeting 10- to 20-year maturities. While representing an increase over prior liquidity-support operations, the volume fell short of broader market expectations for a more aggressive intervention to ease duration supply strains. In response, the benchmark US 10-year Treasury yield advanced further to 4.86%, keeping term premia elevated across sovereign debt markets.
10 Sep 2026
Bond Yields
US 10-Year Treasury Yield Surges to 35-Month High as Inflation Pressures Resurface
The US 10-year Treasury yield climbed to its highest level in 35 months on September 9, driven by resurgent inflation concerns, elevated energy costs, and steady labour conditions. High-frequency private employment data from ADP showed four-week average weekly job additions rising to 12,000 from 10,000 previously, underlining ongoing labour market resilience. The surge in long-end yields alongside firming odds of a 25-basis-point Federal Reserve rate hike has tightened broader financial conditions, underpinning US Dollar strength across G10 crosses while placing downside pressure on risk-correlated currencies and sovereign debt markets globally.
09 Sep 2026
Central Bank Communication
RBA Deputy Governor Signals End of Easing Cycle as Inflation Persists Above Target
Reserve Bank of Australia Deputy Governor Andrew Hauser indicated that Australian CPI remains uncomfortably high above 3%, remarking that markets have likely witnessed the final rate reduction of this policy cycle. Hauser signaled that policy risks remain skewed toward prospective tightening, keeping the possibility of a rate hike alive as domestic inflation proves sticky.
08 Sep 2026
Bond Yields
Japanese 30-Year Bond Demand Softens as Yields Rise Toward Multi-Decade Peaks
Demand weakened at Japan's latest 30-year government bond auction, with the bid-to-cover ratio dropping to 3.14 from 4.04 and the auction tail widening to 0.15 basis points. The highest accepted yield reached 3.457%, reflecting persistent selling pressure on the super-long segment of the curve amid tightening expectations from the Bank of Japan.
08 Sep 2026
Foreign Exchange Intervention
South Korea Pledges FX Stabilisation Interventions as Won Disconnects from Fundamentals
South Korea's Ministry of Economy and Finance warned against excessive foreign exchange market volatility, stating that recent downward pressure and wide swings in the South Korean won have detached from domestic economic fundamentals. Authorities committed to deploying prompt market stabilization tools if volatility escalates.
08 Sep 2026
commodities
Resurgent Middle East Conflict Drives Brent Crude Toward $100 Amid Global Inflation Pressures
Escalating geopolitical conflict in the Middle East has pushed Brent crude oil prices toward $100 per barrel, triggering a broad rise in global energy benchmarks and sparking renewed concerns over imported inflation. The price spike is driving sovereign yields higher globally and dampening broader market risk appetite.
08 Sep 2026
bonds
Ultra-Long UK Gilt Auction Yields Hit Multi-Decade Record Amid Sovereign Debt Sell-Off
An auction of ultra-long United Kingdom government bonds cleared at record-high yields, reflecting an intensifying global bond market sell-off driven by rising real borrowing costs and heavy sovereign debt issuance. Thirty-year UK borrowing costs remain anchored near three-decade highs as duration risk premia expand.
08 Sep 2026
geopolitics
Canada Enacts Tariffs Up to 50% on US Imports Escalating Bilateral Trade Conflict
Trade friction between Canada and the United States escalated sharply as Canada imposed tariffs of up to 50% on a broad range of US imports. The retaliatory trade measures coincided with renewed pressure on cross-border asset sentiment, heightened commodity volatility, and fragile Canadian domestic growth expectations following recent tariff actions.
08 Sep 2026
monetary_policy
Central Bank of Turkey Normalises Liquidity via Repo Auctions Ahead of Expected Q4 Easing
The Central Bank of the Republic of Turkey resumed weekly repo auctions to restore liquidity conditions, pulling the Turkish Lira Reference Rate down from 40% toward its 37% benchmark rate. While a hold is anticipated at the September meeting following modest Q2 GDP expansion of 2.5%, markets are pricing policy rate reductions toward 35% by year-end.
05 Sep 2026
monetary_policy
Bank of Korea Highlights Financial Vulnerabilities as Fiscal Expansion Threatens Yield Trajectory
The Bank of Korea published analysis urging the direct integration of macroprudential policy with monetary settings to counter financial system imbalances. Separately, South Korea's announcement of a 162 trillion won Future Response Fund for 2027 has diluted hopes for early policy easing by boosting projected bond issuance.
05 Sep 2026
Labour
US Treasury Yields Surge Following Strong Nonfarm Payrolls Data
US Treasury yields experienced a notable jump following the release of stronger-than-expected nonfarm payrolls figures, indicating continued labor market resilience.
04 Sep 2026
CENTRAL_BANKS
BoE Chief Economist Huw Pill Warns Against Wait-and-See Approach and Defends Pre-emptive Tightening
Bank of England Chief Economist Huw Pill defended his votes for pre-emptive interest rate hikes, arguing that an overly cautious, wait-and-see monetary policy stance risks anchoring a bias toward the status quo and falling behind persistent inflationary pressures.
04 Sep 2026
Central Bank Decisions
Kazakhstan Central Bank Executes Larger-Than-Expected Rate Cut
The National Bank of Kazakhstan implemented an interest rate reduction that exceeded market consensus expectations.
04 Sep 2026
Central Bank Guidance
Federal Reserve Governor Waller Signals Dovish Shift on Rate Hikes
Federal Reserve Governor Christopher Waller provided comments that led investors to pare back expectations for near-term interest rate increases, contrasting with earlier hawkish rhetoric from Chair Kevin Warsh.
04 Sep 2026
CENTRAL_BANKS
Bank Negara Malaysia Holds Overnight Policy Rate and Drops Stance Suitability Guidance
Bank Negara Malaysia left its benchmark policy rate unchanged but removed official language characterising the current monetary policy stance as 'appropriate,' shifting communication toward potential future tightening amid lingering price pressures.
03 Sep 2026
CENTRAL_BANKS
Bank of Israel Lowers Benchmark Interest Rate by 25 Basis Points Amid Easing Price Pressures
The Bank of Israel lowered its key borrowing rate by 25 basis points, bringing borrowing costs to an almost four-year low as domestic inflation moderates sufficiently to allow the continuation of its monetary easing cycle.
03 Sep 2026
Central Bank Guidance
Riksbank Governor Notes Ambiguous Inflation Risks for Sweden
Riksbank Governor Erik Thedeen stated that inflation risks in Sweden are currently not clear-cut, despite recent hawkish commentary from other board members. While some market participants forecast a rate hike as early as November, the Governor emphasized the complexity of the current price outlook.
03 Sep 2026
Central Bank Guidance
Federal Reserve Official Signals Preference for September Hold Amid Modest Growth
Federal Reserve Governor Christopher Waller indicated a preference for maintaining steady interest rates at the September meeting, provided inflation data does not yield surprises. This coincides with the latest Beige Book report, which characterized U.S. economic activity as rising modestly with persistent but moderate price pressures.
03 Sep 2026
Central Bank Decisions
Reserve Bank of New Zealand Increases Official Cash Rate to 2.75%
The Reserve Bank of New Zealand (RBNZ) raised its Official Cash Rate by 25 basis points to 2.75% in a consensus decision, citing the need to gradually remove monetary stimulus to return inflation to the 2% target mid-point.
02 Sep 2026 02:00 GMT
monetary_policy
Bundesbank Chief Nagel Notes High Global Yields and Inflation Pressure ECB Policy
Deutsche Bundesbank President Joachim Nagel stated that stubbornly high inflation and surging global sovereign yields are complicating the European Central Bank's policy landscape. Nagel also voiced support for common eurozone debt earmarked for defence expenditures.
02 Sep 2026
Central Bank Guidance
Bank of Japan Signals Potential September Hike as Yields Reach Multi-Decade Highs
Governor Kazuo Ueda and board member Hajime Takata have signaled that a rate increase will be discussed at the upcoming September meeting. Concurrently, the 10-year Japanese Government Bond yield reached 3.0% for the first time since 1996, driven by global yield pressures and domestic inflation concerns.
02 Sep 2026
Central Bank Decisions
Bank of Canada Maintains Policy Rate at 2.25% Amid Trade Uncertainty
The Bank of Canada kept its benchmark interest rate unchanged at 2.25%, aligning with market expectations. While the Governing Council noted a broadening economic recovery, it highlighted increased upside risks to inflation and heightened uncertainty in the growth outlook due to new trade tariffs.
02 Sep 2026
Central Bank Policy
Market Focus Shifts to US Labor Data and Bank of Canada Policy Decision
Global markets are preparing for a critical week starting August 31, 2026, with primary attention on upcoming US employment figures to gauge the Federal Reserve's interest rate trajectory. Simultaneously, the Bank of Canada is scheduled to announce its latest interest rate decision, with expectations of a steady policy stance amid stable inflation and resilient growth.
31 Aug 2026
Central Bank Decisions
Botswana Central Bank Maintains Interest Rates
The Bank of Botswana has opted to keep its benchmark interest rate steady, maintaining its current monetary policy stance.
28 Aug 2026
Central Bank Decisions
Tonga Holds Interest Rates Amid Policy Reform
The central bank of Tonga has maintained its current interest rate levels while continuing its ongoing monetary policy reform process.
28 Aug 2026
Central Bank
Fed Chair Warsh Signals Caution on Monetary Policy Path
In his address at the Jackson Hole symposium, Federal Reserve Chair Kevin Warsh refrained from providing specific forward guidance or committing to a defined reaction function, emphasizing a preference for a less prescriptive approach to monetary policy.
28 Aug 2026
Central Bank Decisions and Guidance
Bank of Botswana Hikes Rates by 50 Basis Points
The Bank of Botswana raised its bank rate by 50 basis points, pushing it to the highest level since 2009, driven by rising inflationary pressures in the region.
28 Aug 2026
Central Bank Decisions and Guidance
National Bank of Rwanda Increases Rates by 50 Basis Points
The National Bank of Rwanda implemented a 50 basis point rate hike, responding to accelerating inflation trends within the East African nation.
28 Aug 2026
Central Bank Decisions and Guidance
Federal Reserve Official Signals Urgency for Rate Hikes
Federal Reserve official Hammack stated that current conditions necessitate immediate action to raise interest rates, diverging from the prevailing preference among some colleagues to maintain the current 3.5%-3.75% policy range.
27 Aug 2026
Central Bank Decisions and Guidance
Bank of Korea Implements Consecutive Rate Hikes
The Bank of Korea has delivered back-to-back interest rate increases as core inflation remains persistently elevated, signaling a commitment to tightening despite broader economic concerns.
27 Aug 2026
Monetary Policy
Central Bank of the Philippines Tightens Policy to Combat Inflation
The Bangko Sentral ng Pilipinas implemented a policy tightening measure on August 27 to address persistent inflationary pressures. The decision reflects a continued commitment to price stability as the bank navigates domestic price risks.
27 Aug 2026
Geopolitics
Argentina Lower House Passes Central Bank Reform Legislation
A bill to reform the governance and operational framework of the Central Bank of Argentina passed the lower house on August 27. The reform aims to restructure the institution's mandate and independence.
27 Aug 2026
Geopolitics
EU Foreign Ministers Revive Discussions on Russian Asset Seizure
European Union foreign ministers have renewed the prospect of seizing frozen Russian assets on August 27. The move represents a potential escalation in the financial response to the ongoing conflict in Ukraine.
27 Aug 2026
Central Bank Decisions
Bank of Korea Implements Consecutive Rate Hikes Amid Persistent Inflation
The Bank of Korea has delivered back-to-back interest rate increases as core inflation remains elevated, signaling a continued commitment to tightening monetary policy to address price pressures.
27 Aug 2026
Central Bank Decisions
PBOC Maintains Loan Prime Rates in August
The People's Bank of China kept its one-year and five-year Loan Prime Rates unchanged, consistent with its stated 'moderately loose' monetary policy stance.
27 Aug 2026
Central Bank Guidance
European Central Bank Releases July Meeting Accounts
The ECB's published accounts from its July 22-23 meeting reiterate that future interest rate decisions remain strictly data-dependent, contingent on the evolving inflation outlook and associated risks.
27 Aug 2026
Commodities
Easing Middle East Tensions Weigh on Oil Prices
Crude oil prices have retreated to approximately $86 per barrel following reports of diplomatic efforts to restore shipping lanes in the Straits of Hormuz and ongoing negotiations involving Iran and regional partners.
26 Aug 2026
Monetary Policy
Hungary Extends Easing Cycle with Rate Cut to 5.5%
The Central Bank of Hungary reduced its base rate to 5.5% on August 26, as headline inflation reached its lowest level in nearly a decade. The Monetary Policy Council's decision continues the bank's recent trend of policy normalization.
26 Aug 2026
Monetary Policy
Central Bank of Paraguay Maintains Policy Rate for Sixth Consecutive Meeting
Paraguay's central bank held its benchmark interest rate steady on August 26. The bank noted that while current inflation is below target, it is expected to gradually rise toward 3.3% by the end of the year.
26 Aug 2026