The Central Bank of the Republic of China (Taiwan) on Thursday kept the key interest rates unchanged after a quarterly policymaking meeting, as reported by the Focus Taiwan.
The Reserve Bank of India (RBI) kept its key interest rates unchanged on Friday but cut the cash reserve ratio by 50 basis points to bring enough liquidity in the banking system.
American central bank US Federal Reserve will most likely cut key interest rates twice this year -- once this month and again in December, anticipates S&P Global Market Intelligence.
In its 49th MPC meeting held between June 5 and 7, it was decided to maintain the status quo on key interest rates, reflecting a balanced approach towards sustaining economic growth while keeping inflation in check.
The European Central Bank (ECB) cut the key interest rates for the first time in five years on Thursday. It reduced three key policy rates by 25 basis points (100 basis points is equal to 1 percentage point).
Inflation continues to remain the main concern for the Reserve Bank of India's monetary policy committee members before it goes ahead and loosens its stance on key interest rates.
Bank of England's monetary policy committee hiked key interest rates by 25 basis points (100 basis points is equal to one percentage point) to 4.5 per cent, the highest in over a decade or so.
In light of the ongoing high inflation pressures, the Governing Council of the European Central Bank (ECB) decided to raise the key interest rates by 25 basis points (100 basis points makes 1 percentage points).
Given fragile economic conditions, any new adverse development such as higher-than-expected inflation, an abrupt rise in key interest rates to contain it, a resurgence of the Covid-19 cases, or escalating geopolitical tensions could push the global economy into recession.
For the record, the US Federal Reserve on November 3 raised key interest rates in its fight against red-hot inflation in the country. It raised the key policy rate by 75 basis points to over a decade high at 3.75-4.0 per cent. Notably, this was the fourth consecutive hike of such magnitude.
The updated projections of the Monetary Policy Committee (MPC) of the Bank of England for activity and inflation described a very challenging outlook for the UK economy, as set out in the accompanying November Monetary Policy Report.