Core Viewpoint - The Reserve Bank of Australia (RBA) has decided to maintain the benchmark interest rate at 3.6%, following three rate cuts earlier this year, amidst fluctuating inflation rates and economic uncertainties [1][4]. Economic Indicators - The RBA has cut the benchmark interest rate three times in 2023, from a peak of 4.1% in February to the current 3.6% [1]. - The underlying inflation rate rose to 3% in Q3, up from 2.7% in Q2, while the overall inflation rate reached 3.2% due to the cessation of electricity subsidies [1][2]. - The unemployment rate increased from 4.3% in August to 4.5% in September, indicating a slight slowdown in employment growth [2]. Market Conditions - Private demand in Australia is recovering, contributing to a strengthening real estate market and rising housing prices [2]. - Despite a tight labor market, there are still high levels of job vacancies, indicating ongoing recruitment challenges for businesses [2]. Future Outlook - The RBA anticipates that the underlying inflation rate may exceed 3% in the coming quarters before stabilizing at 2.6% by 2027 [1]. - Economic activity and inflation outlooks face uncertainties due to both domestic and international factors, including potential changes in private demand and global economic conditions [3][4]. - The RBA remains cautious, noting that the full effects of previous rate cuts have yet to materialize, and will continue to monitor economic uncertainties closely [4].

Core Viewpoint - The National Bank of Kyrgyzstan has raised the benchmark interest rate by 75 basis points to 10% as of October 28, 2023, in response to inflationary pressures and economic conditions [1] Economic Indicators - Kyrgyzstan's inflation rate since 2025 stands at 6.2%, with an annualized inflation rate of 8.4% [1] - Current inflation is influenced by foreign market energy supply constraints, rising costs in certain service sectors, and strong consumer demand [1] Economic Growth Factors - The expansion of domestic financing channels has led to increased fixed capital investment, significantly boosting the construction industry [1] - Growth in household income due to active fiscal policies and increased remittance inflows remains a primary driver of domestic demand [1] Monetary Policy - The National Bank of Kyrgyzstan is implementing a balanced monetary credit policy and continues to assess both internal and external inflation factors [1] - The bank does not rule out adjustments to current monetary policy in response to risks affecting price stability [1]

Core Viewpoint - The Central Bank of Russia has decided to lower the key interest rate by 50 basis points to an annualized rate of 16.50% [1] Summary by Relevant Sections - **Interest Rate Decision** - The key interest rate has been reduced by 50 basis points [1] - The new annualized rate is now 16.50% [1] - **Inflation Indicators** - The core inflation measure has not shown significant changes [1] - The annual growth rate remains above 4% [1]

Core Insights - By September 2025, the global payment share of the Renminbi is projected to reach 3.17%, ranking it as the fifth most active currency globally, an increase from the previous 2.93% [1] - FTSE Russell has updated the inclusion criteria for the FTSE China Onshore Renminbi Bond Index, with significant adjustments set to take effect in November this year, potentially adding 3,482 bonds valued at 11.21 trillion Renminbi to the index [1] - The Bank of Korea has maintained its benchmark interest rate at 2.5% for the third consecutive time, citing concerns over rising real estate prices and increasing mortgage loans that could exacerbate financial instability [1] Market Dynamics - The Dow Jones Industrial Average rose by 0.31% to 46,734.61 points, the S&P 500 increased by 0.58% to 6,738.44 points, and the Nasdaq Composite climbed by 0.89% to 22,941.8 points [3] - COMEX gold futures increased by 1.91% to $4,143.2 per ounce, while COMEX silver futures rose by 2.03% to $48.65 per ounce [4] - U.S. crude oil futures saw a significant rise of 5.56% to $61.75 per barrel, and Brent crude oil futures increased by 5.38% to $65.96 per barrel [5] Economic Indicators - The U.S. existing home sales slightly increased to an annualized rate of 4.06 million units in September, marking the highest level in seven months [2] - The Turkish central bank has lowered its benchmark interest rate by 100 basis points from 40.5% to 39.5%, aligning with market expectations and marking the third rate cut since July [2]

Core Viewpoint - The Reserve Bank of India's Monetary Policy Committee (MPC) is deliberating on potential changes to the benchmark interest rates amid global geopolitical tensions and the impact of US tariffs, with outcomes expected to be announced on October 1, 2025 [1] Expectations - The MPC's decision on benchmark interest rates is highly anticipated, with a report from the State Bank of India (SBI) advocating for a 25 basis points (bps) rate cut as the "optimal choice" [2] - Some analysts predict the committee may maintain the current repo rate of 5.50%, unchanged since a 50 bps reduction in June 2025, as market expectations favor holding the rate steady [2] - Nuvama Institutional Equities indicated that any decision to cut rates would be a close call, reflecting divided opinions among experts [3] - A report from Union Bank of India supports a 25 bps repo rate reduction, citing expectations of a significant downward revision in the inflation forecast for FY26 [3] Inflation - Retail inflation rose to 2.07% in August 2025, up from 1.61% in July, primarily due to higher prices of vegetables, meat, fish, oils, eggs, and personal care items [4] - This marks the first increase in the headline inflation number since November 2024, but it remains below the 4% median rate of the targeted inflation range, leading experts to believe it may prompt a policy interest rate cut next month [4] - The inflation for FY26 was previously projected at 3.1% in the August 2025 MPC meeting [4] Prior MPCs - The MPC has reduced the repo rate by a total of 100 basis points in the ongoing rate cut cycle, with reductions of 25 basis points each in February and April 2025, and 50 basis points in June 2025 [5] - The most recent MPC meeting in August 2025 resulted in the repo rate remaining unchanged [5] Upcoming MPC Schedule - Upcoming RBI MPC meetings are scheduled for December 3, 4, and 5, 2025, and February 4, 5, and 6, 2026 [6]

Group 1 - The core viewpoint of the article indicates that a majority of experts expect the Bank of Korea to maintain its benchmark interest rate during the upcoming policy meeting, with 20 out of 27 experts predicting no change and 7 forecasting a rate cut [1] - Goldman Sachs' team, led by expert Kwon Joon-ho, suggests that a dovish stance will allow the Bank of Korea to monitor household debt trends, assess the effects of fiscal stimulus, and evaluate the Federal Reserve's movements [1] - Goldman Sachs maintains its basic forecast that the Bank of Korea will implement a rate cut in October [1] Group 2 - Most experts anticipate that due to stronger-than-expected growth data in the second quarter, the Bank of Korea may slightly revise upward its GDP growth and inflation forecasts for 2025 [1]

Core Viewpoint - President Trump has intensified pressure on the Federal Reserve, specifically targeting Governor Lisa Cook, demanding her resignation amid allegations of mortgage fraud [1][2][3] Group 1: Pressure on Federal Reserve - Trump has publicly criticized Fed Chair Jerome Powell for not lowering interest rates and has now directed his ire towards Cook, calling for her resignation on social media [1] - The call for Cook's resignation follows a report by Bill Pulte, who has suggested that Cook's mortgage applications should be scrutinized more closely [1] Group 2: Cook's Response - Cook has stated that the mortgage applications in question occurred before she joined the Federal Reserve and has expressed her intention to address any reasonable inquiries regarding her financial history [2] - She emphasized that she will not resign due to what she perceives as bullying tactics [2] Group 3: Legal and Institutional Context - It remains unclear whether the Department of Justice will investigate Cook, as the President cannot arbitrarily dismiss Federal Reserve officials without just cause [3] - Cook, who was appointed during the Obama administration, is the first Black woman to serve as a Federal Reserve Governor and has recently been reappointed for a term lasting until 2038 [3]

Core Viewpoint - The Central Bank of Russia has lowered the benchmark interest rate to 18%, indicating a faster-than-expected decline in inflation and a slowdown in domestic demand, while aiming to return inflation to target levels by 2026 [1]. Group 1: Interest Rate Changes - The Central Bank of Russia announced a reduction in the benchmark interest rate from 20% to 18% [2]. - This marks a continuation of the central bank's monetary policy adjustments in response to economic conditions [1]. Group 2: Economic Indicators - The central bank noted that inflation is decreasing more rapidly than anticipated, which has influenced the decision to adjust the interest rate [1]. - There is a trend of economic activity returning to a balanced growth path, despite the slowdown in domestic demand [1]. Group 3: Future Outlook - The Central Bank of Russia plans to maintain a moderately tight monetary policy to ensure inflation returns to target levels by 2026 [1]. - Future adjustments to the benchmark interest rate will be made based on inflation expectations [1].

Core Insights - A Reuters survey indicates that 27 out of 28 economists expect the Bank of Mexico to lower the benchmark interest rate to 7.75% on August 7, while 1 economist predicts the rate will remain unchanged at 8.00% [1] Group 1 - The majority consensus among economists suggests a forthcoming interest rate cut by the Bank of Mexico [1] - The anticipated rate adjustment reflects a significant shift in monetary policy aimed at stimulating economic growth [1] - The lone dissenting opinion highlights uncertainty in the economic outlook, suggesting a cautious approach to rate changes [1]

Core Viewpoint - South Africa has lowered its benchmark interest rate by 25 basis points to 7%, aligning with market expectations [1] Group 1 - The decision to reduce the interest rate is aimed at stimulating economic growth [1] - The adjustment reflects the central bank's response to current economic conditions and inflation trends [1] - This rate cut may influence borrowing costs and consumer spending in the South African economy [1]