MODULE
Central Banks
The five most important central banks in direct comparison — rate, next meeting and what has changed since the last session.
Federal Reserve
Three of the five major central banks have recently surprised more hawkish than expected: The Fed held on Jun 17 under new Chair Kevin Warsh with a hawkish Dot-Plot, the ECB was the first major central bank to raise rates, and the BoJ hiked to the highest level since 1995 — with the explicit announcement to continue the course. Only the SNB remains clearly dovish, while the BoE is holding back without a clear direction. The PCE release on Thursday should show whether the Fed confirms its hawkish course — that is the key event of the week for the USD Score.
Central Banks Comparison
5 Institutions
Federal Reserve
USA
3.50–3.75%
Interest Rate
Next Meeting: 28.–29. Juli
Held on Jun 17 under new Chair Kevin Warsh — Dot-Plot signals further possible hikes instead of previously expected cuts.
ECB
Eurozone
2.25%
Deposit Rate
Next Meeting: 23. Juli
First major central bank to raise rates, to combat recently sharper price pressure in the Eurozone.
Bank of England
UK
3.75%
Interest Rate
Next Meeting: 30. Juli
Hielt am 18.06. vor dem Hintergrund stabiler Inflation, aber schwachem Arbeitsmarkt — keine klare Forward Guidance in eine Richtung.
Bank of Japan
Japan
1.00%
Interest Rate
Next Meeting: 30. Juli
Raised on Jun 16 by 25bp to highest level since 1995 (decision 7-1) — announte explizit weitere Anhebungen an, sofern Inflation und Wachstum wie projiziert verlaufen.
SNB
Switzerland
0.25%
Interest Rate
Next Meeting: September
Has maintained zero-rate policy since June 2025 — Markets expect first rate hike at the earliest in the second half of 2027 according to analysts.