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Written by Alon John
LONDON (Reuters) – The first central bank meetings for 2025 indicate that there is a year in which politics manufacturers are running in their own way with a decrease in economic paths, as the United States has fixed interest rates, eurozone discounts, and outsider Japan, the first central bank meetings for 2025. Long -distance walking.
This is a change from last year, as the global consensus was on cautious prices, as the policy of facilitating advanced central banks in the world is ten and advanced in the world.
Here is a look at the place where they are currently standing:
1/ Switzerland
The Swiss National Bank was at the forefront of cash dilution, and in 2024, its standard price took from 1.75 % to 0.5 %.
With well inflation within the target SNB range 0-2 %, and the relevant central bank on a strong franc, investors see 25 other basis points at its meeting in March. The Chairman of the Board of Directors did not rule out the rates of return to negative lands.
2/ Canada
On Wednesday, Canada Bank reduced the main policy price of 25 points per second to 3 %, and expected growth expectations and warned that the US tariff war caused by the United States could cause significant economic damage.
US President Donald Trump promised to impose a 25 % tariff on all imports from Canada on Saturday. “The monetary policy cannot be compensated for the effects of the higher definitions … it can be smooth for this modification,” said Boc Tif Macklem President while monetary policy.
The market pricing indicates a reduction of at least one rate of this tournament, although it is more likely in April after a stop in March.
3/ Sweden
The Riksbank in Sweden also reduced prices by 25 basis points on Wednesday, to 2.25 %, to enhance slow growth.
Governor Eric Thidin said that Riksbank has probably ended with price discounts, but the look is unconfirmed and is ready to behave if expectations change for inflation or economy.
4/ New Zealand
The New Zealand Reserve has reduced the official cash price by 125 basis points since August, as it reduced inflation, but economic activity has also contracted, prompting New Zealand to recession in the third quarter.
She indicated that it could reduce 50 other basis points when it meets next month, although the chief economist said on Wednesday that RBNZ needs “feeling on our way because (the official cash price) is approaching neutrality.”
5/ The euro area
The European Central Bank reduced interest rates by 25 points per second, as expected on Thursday and kept more dilution on the table, adhering to its opinion that the euro area enlarged is increasingly controlling.
This is to reduce the price of the fifth European Central Bank since June 2024, and merchants priced three other discounts 25 bits per second this year.
6/ United States
The Federal Reserve kept at fixed interest rates on Wednesday, and Jerome Powell President said that there will be no rush to reduce them again to make inflation and job data suitable.
