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A jogger runs past the Federal Reserve building in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Wattie
World

World’s Central Banks Start New Year With Policy Adjustments

Published February 7, 2025
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Tuesday, February 4, 2025
Year : 2, Issue: 23/strong>

Agencies: The world’s central banks started the new year with policy adjustments as the global fight against inflation continues.
Global economies are changing policies to adapt to new conditions while recession risks persist.
President Donald Trump’s protectionist trade policies and tariff threats lead major central banks to be more cautious.
The Fed kept its rate unchanged at 4.25% to 4.50%, within estimates, citing mostly stabilizing unemployment, continuing strong economic activity, and strong labor market conditions.
Fed Chair Jerome Powell said there is no rush to adjust the bank’s policy, and despite inflation still remaining somewhat high, it is closer to the long-term 2% target.
The European Central Bank (ECB) cut its deposit interest rate to 2.75%, the refinancing rate to 2.90%, and the marginal borrowing rate to 3.15%, thereby cutting its three key policy rates by 25 basis points each.
The bank’s decision came after slowing economic growth across the eurozone while inflation reached 2.4% in December last year, close to the bank’s 2% target.
Meanwhile, the Bank of Canada (BoC) cut its policy rate by 25 basis points to 3%, easing its policy for the sixth consecutive meeting. The bank stated it will gradually resume asset purchases in early March and the balance sheet will stabilize in line with economic growth.
At the same time, Sweden’s Central Bank (Riksbank) announced that it cut its policy rate by 25 basis points to 2.25% due to weakening economic activity after facing high inflation, while the Danish Central Bank cut its interest rate by 25 basis points to 2.35%.

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