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Central banks

  • April 1 2026
    Bank of England
    Iran war shock is intensifying risks to financial system, says BoE
    Central bank warns conflict likely to hit economic growth as Keir Starmer insists UK ‘well placed’ to weather crisis
    A cyclist passes in front of the Bank of England building, with people walking nearby and modern office towers in the background.
  • April 1 2026
    Federal Reserve
    The Fed is vacillating as the war continues
    This is starting to look like a central bank appeasing its political masters
    Chris Giles
    Jerome Powell walks in front of blue curtains and U.S. and Federal Reserve flags before a news conference.
  • March 31 2026
    US interest rates
    Drop in hiring adds to Fed’s concerns over low job growth
    Vacancies remained strong but US businesses hired far fewer new workers in February
    A recruiter's hand arranges blue brochures reading "This is the JOB you want" with QR codes at a job fair table.
  • March 31 2026
    European Central Bank
    The ECB’s three-pronged monetary strategy
    Unless the war ends quickly, a rise in Eurozone interest rates looks inevitable
    Chris Giles
    Premium content
    Christine Lagarde speaks at a podium
  • March 31 2026
    US Treasury bonds
    Foreign central banks sell US Treasuries in wake of Iran war
    International official holdings at New York Federal Reserve fall to lowest level since 2012
    A man walks past the entrance of the Central Bank of Turkey building in Ankara.
  • March 30 2026
    Yen
    Yen and rupee rise as Asian countries struggle to defend their currencies
    Japan’s top currency official warns ‘decisive action’ by government might soon be necessary
    A person walks past an electronic board displaying the Nikkei index and other stocks.
  • March 29 2026
    Philippines
    Philippines ‘between rock and a hard place’ over surging energy prices
    Central bank governor warns that raising rates to tackle inflation could hit already weak economic growth
    Jeepney drivers stage a protest in Quezon City, Philippines
  • March 27 2026
    Monetary Policy Radar
    War forecasting
    Our March scenarios look at how central banks would react to a short conflict — and to a long one
    The USS Gerald Ford aircraft carrier sails through the Strait of Gibraltar with the Rock of Gibraltar in the background.
  • March 27 2026
    Global Economy
    Explainer. Inflation and interest rates tracker: see how your country compares
    Inflationary pressures are beginning to wane. Explore the latest data through interactive charts
  • March 27 2026
    Investments
    What the 1970s can teach investors about today’s oil shock
    As central bankers tread the line between controlling inflation and avoiding economic stagnation, investors face tough decisions
    Illustration of an oil tanker ship sailing through a sea of line charts
  • March 26 2026
    US economy
    Fed could cut balance sheet by $2tn without market turmoil, says Miran
    Bank governor says regulatory changes and reduced stigma around lending tools could allow a gradual reduction in assets
    Stephen Miran speaks at a table with a microphone during a Federal Reserve Board meeting.
  • March 26 2026
    Federal Reserve
    Alphaville. Central bank governance reform for the lols
    End the Fed?
    Nicki Minaj laughing with Scott Bessent on January 28, 2026
  • March 26 2026
    Federal Reserve
    Bessent praised BoE as model for tighter oversight of Fed
    Private conversations come at time when Donald Trump has launched assault on US central bank
    Scott Bessent speaks at a podium with a US flag in the background during an Economic Club of Minnesota event.
  • March 25 2026
    UK interest rates
    Why the Bank of England will not raise rates this year
    The UK’s central bank is making a Maradona-like feint with hawkish monetary policy signals
    Karen Ward
    A cyclist in silhouette passes the Bank of England, with people sitting and walking near the building’s columns
  • March 25 2026
    European Central Bank
    ECB ready to raise rates ‘at any meeting’, says Lagarde
    Central bank chief says policymakers need time to assess ‘nature, size and persistence’ of inflation surge from Iran war
    Christine Lagarde speaks at a press conference, gesturing with her hand, with a backdrop of yellow stars on a blue background.
  • March 24 2026
    Turkish economy
    Drain on Turkey’s reserves raises prospect of gold sales to prop up currency
    Central bank has spent $30bn to support lira as foreign investors sell Turkish assets during Iran war
    Shoppers walk through a busy market street lined with stalls selling textiles, snacks, and colourful goods near Istanbul’s Grand Bazaar.
  • March 24 2026
    Chris Giles on Central Banks
    Why the Fed and BoE have diverged on the war
    The BoE’s hawkish tone clashed with the Fed’s non-committal approach at last week’s rate-setting meetings
    Premium content
    Jay Powell and Andrew Bailey walking outdoors
  • March 24 2026
    Bank of Japan
    Weak headline inflation unlikely to stop Bank of Japan normalisation
    Headline inflation dropped in February as a result of energy price subsidies
    Shoppers wait in a long line as a store worker distributes bags of rice from a large stockpile at a grocery store in Tokyo.
  • March 23 2026
    UK interest rates
    Markets wrong on UK interest rate rises, say economists
    Forecasters argue a weak economy will prevent the energy shock fuelling persistent inflation
    People stand and walk in front of the Bank of England and the Royal Exchange, with several sitting on steps in the sun.
  • March 20 2026
    Monetary Policy Radar
    Strait talking
    A big week in central bank decisions saw relatively pointed communications from the Bank of England
    Andrew Bailey, governor of the Bank of England, poses in a hallway wearing a dark suit, white shirt, and dark tie.
  • March 20 2026
    Bank of England
    Bank of England’s tough rhetoric on rates makes it an outlier
    Analysis of recent central bank decisions shows BoE making the largest shift in tone following energy shock
    Andrew Bailey gestures with both hands while speaking at a Bank of England Monetary Policy Report press conference.
  • March 20 2026
    Indian economy
    India’s central bank battles to protect rupee from Iran war fallout
    RBI burns through more than $20bn of foreign exchange reserves this month trying to defend currency, say bankers
    Hands of two people exchanging Indian rupee banknotes at a market, one holding a pen and a bundle of cash.
  • March 20 2026
    Markets
    Interest rates take fright
    The market’s calm in the face of war is beginning to crack
    Robert Armstrong
    Premium content
    Several black and white dominoes are shown toppling over in a chain reaction across a diagonal split background of pink and blue.
  • March 19 2026
    European Central Bank
    ECB holds rates steady and highlights raised uncertainty
    Central bank is reserving judgment on whether it can look through the energy price shock
    The European Central Bank building stands beside the river with Frankfurt's skyline in the background.
  • March 18 2026
    US economy
    Fed chief Jay Powell says Iran oil crisis will worsen US inflation
    Short-term borrowing costs jump to highest level since last summer as central bankers lift forecasts for price growth
    Jay Powell speaks at a podium with the Federal Reserve seal, flanked by US flags and Federal Reserve banners.
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