Global Central Bank Monitor
Recent monetary policy moves
This story was originally published at 15:02 IST on 16 May 2025
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MUMBAI – Following is a summary of decisions by key central banks in the week ended Friday:
BANCO DE MEXICO (May 15)
The Mexican central bank's monetary policy committee Thursday slashed the overnight interbank funding rate by 50 basis points to 8.50%, for the third consecutive time, as was expected. The bank's monetary policy committee indicated that further rate cuts could be considered in future meetings. The central bank panel considered weak economic activity in the country and trade tensions with the US, Mexico's largest trading partner, as key factors for its decision.
BANK (rate) | POLICY RATE | MOVE AT LAST MEET | PREVIOUS MOVE ON RATES |
Reserve Bank of Australia (Cash rate) | 4.10% | -- (Apr. 1) | (-)25 bps (Feb. 18) |
Banco Central do Brasil (Selic rate) | 14.75% | +50 bps (May 7) | +100 bps (Mar. 19) |
Bank of Canada (Overnight rate) | 2.75% | -- (Apr. 16) | (-)25 bps (Mar. 12) |
The People's Bank of China (Benchmark 1-year lending rate) | 3.10% | -- (Apr. 21) | -- (Mar. 20) |
Bank of England (Bank rate) | 4.25% | (-)25 bps (May 8) | -- (Mar.20) |
European Central Bank (Deposit rate) | 2.25% | (-)25 bps (Apr. 17) | (-)25 bps (Mar. 6) |
Reserve Bank of India (Repo rate) | 6.00% | (-)25 bps (Apr. 9) | (-)25 bps (Feb. 7) |
Bank Indonesia (BI 7-day reverse repo rate) | 5.75% | -- (Apr. 23) | --(Feb. 19) |
Bank of Japan (Overnight call rate) | 0.50% | -- (May 1) | -- (Mar. 19) |
Bank Negara Malaysia (Overnight Policy Rate) | 3.00% | –- (May 8) | –- (Mar. 6) |
Banco de Mexico (Overnight interbank funding rate) | 8.50% | (-)50 bps (May 15) | (-)50 bps (Mar. 27) |
Central Bank of Russia (Key rate) | 21.00% | -- (Apr. 25) | --(Mar. 21) |
Saudi Arabian Monetary Authority (Repo rate) | 5.00% | (-)25 bps (Dec. 18) | (-)25 bps (Nov. 7) |
South African Reserve Bank (Repo rate) | 7.50% | -- (Mar. 20) | (-)25 bps (Jan. 30) |
Bank of Korea (Base rate) | 2.75% | -- (Apr. 17) | (-)25 bps (Feb. 25) |
Swiss National Bank (Sight deposits rate) | 0.25% | (-)25 bps (Mar. 20) | (-)50 bps (Dec. 12) |
TCMB (Turkey) (1-week repo) | 46.00% | +350 bps (Apr. 17) | --(Mar. 20) |
US Federal Reserve (Federal funds rate) | 4.25-4.50% | -- (May 7) | -- (Mar. 19) |
End
Compiled by Srijita Bose
Filed by Tanima Banerjee
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