Core Viewpoint - The board of governors has decided to cut the overnight interest-rate target by a quarter of a percentage point to 6.75%, marking a return to monetary easing [1] Group 1 - The interest-rate target has been reduced from its previous level, indicating a shift in monetary policy [1] - The decision was made with a close vote of 3-2, reflecting differing opinions among the board members [1]

Core Viewpoint - The central bank's finances are showing signs of recovery following a period of unprecedented losses associated with pandemic-era stimulus measures and the subsequent battle against inflation [1] Group 1 - The central bank experienced significant financial losses during the pandemic due to its stimulus efforts [1] - The recovery of the central bank's finances indicates a positive shift in its financial health after addressing inflation challenges [1]

breaking news instead right now we've got some news from the Justice Department and the Federal Reserve. Let's bring an MSNOW justice and intelligence correspondent, Ken Delanian. Ken, what's happening.Katie, a federal judge has just delivered a striking repudiation to Donald Trump's Department of Justice by quashing the subpoenas that the DOJ and U .S. Attorney Janine Pirro served on the Fed, the Federal Reserve, and Jerome Powell in connection with its criminal investigation purportedly into that renovati ...

Germany’s Bundesbank will give up its historic headquarters in Frankfurt https://t.co/CuWOcCaBeB ...

Core Viewpoint - The Swiss National Bank has faced challenges in controlling the appreciation of the Swiss franc over the past year [1] Group 1 - The Swiss National Bank's efforts to limit the franc's appreciation have been ongoing and difficult [1]

Core Viewpoint - The Central Bank of Russia has decided to lower the benchmark interest rate by 50 basis points to 15.5%, marking the sixth consecutive rate cut, while indicating a gradual easing of monetary policy but maintaining a generally tight stance [1]. Group 1: Monetary Policy Adjustments - The Central Bank of Russia continues to gradually relax its monetary policy while still keeping it tight overall [1]. - The bank's announcement highlights that the Russian economy is returning to a balanced growth trajectory [1]. - The feasibility of further rate cuts will depend on the sustainability of inflation slowdown and changes in inflation expectations [1]. Group 2: Inflation and Economic Forecasts - In January, inflation accelerated significantly due to "one-off factors," but the Central Bank expects that sustainable indicators of price increases have not changed significantly [1]. - The Central Bank forecasts that under the current monetary policy, the annual inflation rate will decline to 4.5% to 5.5% by 2026, with a target of around 4% in the second half of 2026 [1]. - The annual inflation rate for 2025 is projected to be lower than the Central Bank's forecast at 5.6% [1]. Group 3: Inflation Risks - The Central Bank identifies that medium-term inflation risks outweigh deflation risks, with key inflation risks including long-term deviations from balanced growth, high inflation expectations, and the impact of VAT and regulated price increases [2]. - Trade tensions, global economic slowdown, and low oil prices could create inflationary effects through the ruble exchange rate [2]. - Geopolitical tensions remain a significant source of uncertainty [2]. Group 4: Upcoming Meetings - The Central Bank of Russia will hold a board meeting on March 20 to review subsequent adjustments to the benchmark interest rate [3].

Group 1 - The European Central Bank (ECB) decided to keep the three key interest rates unchanged, aligning with market expectations [1] - The deposit facility rate, main refinancing rate, and marginal lending rate remain at 2.00%, 2.15%, and 2.40% respectively [1] - The ECB's latest assessment indicates that inflation is expected to stabilize around the target level of 2% in the medium term [1]

Core Viewpoint - The Bank of England's Monetary Policy Committee (MPC) decided to maintain the benchmark interest rate at 3.75%, marking the sixth consecutive time the rate has remained unchanged, with a previous rate cut occurring in August 2024 [1] Inflation Trends - The UK's CPI inflation rate is projected to be 3.4% by December 2025, still above the 2% target but down 0.4 percentage points from the peak in September [2] - Inflation is expected to accelerate its decline starting in April 2025, potentially reaching 2.1% by the second quarter of 2026, driven by energy subsidies and falling wholesale gas prices [2] - Key measures contributing to the decline in inflation include energy bill reductions and extended fuel tax cuts [2] Economic Growth - The UK economy is experiencing persistent weakness, with potential GDP growth of only 0.1% in the fourth quarter of 2025, significantly impacted by tightened monetary policy and uncertainty [3] - A slight recovery in growth is anticipated in the first quarter of 2026, with an expected increase to 0.2%, although household consumption and business investment remain weak [3] - The savings rate continues to be higher than pre-pandemic levels [3] Labor Market - The unemployment rate is stable at 5.1%, with a further loosening of the labor market indicated by a decrease in job vacancy rates [4] - Private sector wage growth has slowed to 3.6%, while public sector wage growth remains high at 7.9% [4] - The unemployment rate is projected to rise to 5.3% by mid-2026 [4] Policy Direction and Risk Balance - The MPC emphasizes that the core goal of monetary policy is to ensure inflation not only returns to 2% but remains stable at that level in the medium term [5] - While the risk of sticky inflation has significantly decreased, weak demand and a loose labor market may still pose risks of inflation falling below the target [5] - Future interest rate cuts are possible but will be approached with caution, depending on inflation outlook; rapid or excessive cuts could lead to sticky inflation, while insufficient cuts may exacerbate economic downturn risks [5] - Factors such as AI technology application, global trade policy changes, and energy price fluctuations will be key variables affecting future inflation and economic growth, with the Bank of England monitoring these risks closely [5]

Core Viewpoint - The Bank of England has decided to maintain the benchmark interest rate at 3.75%, aligning with market expectations, as the UK economy shows signs of stabilization and inflation remains sticky [1][1]. Group 1: Interest Rate Decision - The Bank of England's Monetary Policy Committee voted with 5 members in favor of keeping the rate unchanged, while 4 members supported a 25 basis point cut to 3.5% [1]. - The decision follows four rate cuts in the previous year, totaling a reduction of 100 basis points [1]. Group 2: Economic Indicators - The UK economy is showing signs of stabilization, reducing the urgency for further rate cuts [1]. - The Consumer Price Index (CPI) in December reversed its downward trend, increasing from 3.2% in November to 3.4% [1]. - The Services Price Index also saw a slight increase from 4.4% in November to 4.5% in December [1]. Group 3: Future Outlook - Market institutions anticipate that if the UK labor market continues to slow, the Bank of England may implement a rate cut in April [1].

Group 1 - The Federal Reserve announced that it will maintain the federal funds rate target range at 3.5% to 3.75%, aligning with market expectations [1] - The Federal Open Market Committee (FOMC) indicated that current indicators show the U.S. economy is in "robust expansion," but uncertainty regarding the economic outlook remains high [1] - Employment growth continues to be sluggish, with some signs of stabilization in the unemployment rate, while inflation remains at elevated levels [1] Group 2 - Fed Chairman Jerome Powell stated that future monetary policy decisions will be based on new data, with 10 out of 12 FOMC members supporting the decision to maintain rates [2] - Powell mentioned that the current federal funds rate is generally "neutral," and core inflation in the U.S. is expected to reach around 3% by December [2] - If inflation peaks and begins to decline as previously anticipated, the Fed may consider easing monetary policy, especially if the labor market does not stabilize [2] Group 3 - Powell advised the next Fed chair to avoid involvement in electoral politics, emphasizing the importance of maintaining the Fed's independence [3] - The market currently estimates an 88.6% probability that the Fed will keep interest rates unchanged at the next monetary policy meeting, an increase from 82.7% the previous day [3]