Central Bank Monitoring

Central Bank Monitoring provides a quarterly overview of the latest monetary policy developments, strategies and communications at eleven central banks, including the CNB. Each issue features a Spotlight section covering a current topic and a selected speech given by a prominent foreign central banker. The selected banks are the US Federal Reserve System, the European Central Bank, the Bank of England, the Reserve Bank of New Zealand, Norges Bank in Norway, Schweizerische Nationalbank in Switzerland, the Bank of Canada, Sveriges Riksbank in Sweden, Magyar Nemzeti Bank in Hungary and Narodowy Bank Polski in Poland.

June 2024
Part of the central banks under review, including the ECB, lowered their rates at their recent meetings, while others kept them unchanged. Japan abandoned negative interest rates. A review of the Bank of Englands’s forecasting process was completed. The Spotlight focuses on comparing the market outlooks for euro area interest rates with the ECB’s communications, in particular on the gap between them at the start of this year. In our Selected Speech, Governor of the French BdF discusses the current decline in inflation and the question of the level at which interest rates are going to stabilise. Details (pdf, 837 kB).