Market Brief

Recent central bank communications reveal notable policy divergences, particularly between the hawkish stance of the Magyar Nemzeti Bank at 6.25% and the dovish approach of the Swiss National Bank at 0.00%. While the Magyar Nemzeti Bank is responding to decreasing inflation and positive domestic demand, the Swiss National Bank maintains its accommodative policy despite rising inflation driven by energy prices. Additionally, the Reserve Bank of India at 5.25% and the National Bank of Serbia at 5.75% are cautiously navigating inflation trends, contrasting with the more aggressive posture of Norges Bank at 4.25%, which signals potential tightening to address stronger-than-expected inflationary pressures.

July 2026 17
๐Ÿ‡ต๐Ÿ‡ฑ Nati 1 -12d
๐Ÿ‡ฎ๐Ÿ‡ฑ Bank 6 -7d
๐Ÿ‡ฆ๐Ÿ‡บ RBA 7 -6d
๐Ÿ‡ณ๐Ÿ‡ฟ Rese 8 -5d
๐Ÿ‡ฐ๐Ÿ‡ท BoK 9 -4d
๐Ÿ‡ท๐Ÿ‡ธ Nati 9 -4d
๐Ÿ‡ช๐Ÿ‡บ ECB 16 +3d
๐Ÿ‡ฟ๐Ÿ‡ฆ SARB 16 +3d
๐Ÿ‡จ๐Ÿ‡ณ PBoC 20 +7d
๐Ÿ‡ณ๐Ÿ‡ฌ CBN 21 +8d
๐Ÿ‡น๐Ÿ‡ท Cent 23 +10d
๐Ÿ‡ท๐Ÿ‡บ CBR 24 +11d
๐Ÿ‡ญ๐Ÿ‡บ Magy 28 +15d
๐Ÿ‡บ๐Ÿ‡ธ Fed 29 +16d
๐Ÿ‡จ๐Ÿ‡ฆ BoC 29 +16d
๐Ÿ‡ง๐Ÿ‡ท BCB 29 +16d
๐Ÿ‡ฏ๐Ÿ‡ต BoJ 30 +17d
August 2026 10
๐Ÿ‡ฌ๐Ÿ‡ง BoE 6
๐Ÿ‡ฎ๐Ÿ‡ณ RBI 7
๐Ÿ‡ฆ๐Ÿ‡บ RBA 11
๐Ÿ‡ฒ๐Ÿ‡ฝ Banc 13
๐Ÿ‡ณ๐Ÿ‡ด Norg 13
๐Ÿ‡ณ๐Ÿ‡ฟ Rese 19
๐Ÿ‡จ๐Ÿ‡ณ PBoC 20
๐Ÿ‡น๐Ÿ‡ท Cent 20
๐Ÿ‡ฎ๐Ÿ‡ฑ Bank 24
๐Ÿ‡ฐ๐Ÿ‡ท BoK 27
โ† Scroll horizontally to see more โ†’
Central Bank Rate FX CPI GDP M2 Trade Intent Rate / FX
๐Ÿ‡บ๐Ÿ‡ธ
Federal Reserve โš–๏ธ โ–ผ
EUR/USD
3.62%
1.1525
EUR/USD
4.2%
2.2%
5.6%
-106B
N
โ†‘0 โ†“0 โ†’1
Rate
5.383.62
FX
1.161.15
Statements
๐Ÿ‡จ๐Ÿ‡ณ
People's Bank of China โš–๏ธ โ–ผ
USD/CNY
3.00%
6.8976
USD/CNY
-0.1%
5.0%
6.8%
+89B
D
โ†‘0 โ†“3 โ†’0
๐Ÿฆ0/1 ๐Ÿ’ง0/1
Rate
3.453.00
FX
6.926.87
Statements
๐Ÿ‡ช๐Ÿ‡บ
European Central Bank ๐Ÿฆ… โ–ผ
EUR/USD
2.00%
1.1525
EUR/USD
3.1%
1.5%
2.9%
-19B
H
โ†‘2 โ†“0 โ†’0
Rate
4.502.00
FX
1.161.15
Statements
๐Ÿ‡ฏ๐Ÿ‡ต
Bank of Japan ๐Ÿฆ… โ–ผ
USD/JPY
1.00%
โ†‘0.25
159.60
USD/JPY
3.2%
1.2%
1.4%
+1B
H
โ†‘1 โ†“0 โ†’0
๐Ÿ”ฎ1/0 ๐Ÿ—ฃ2/0
Rate
1.00-0.10
FX
160157
Statements
๐Ÿ‡ฎ๐Ÿ‡ณ
Reserve Bank of India ๐Ÿ•Š๏ธ โ–ผ
USD/INR
5.25%
93.10
USD/INR
3.0%
7.6%
11.3%
-30B
โ€”
Rate
6.505.25
FX
94.891.7
Statements
๐Ÿ‡ฌ๐Ÿ‡ง
Bank of England โš–๏ธ โ–ผ
GBP/USD
3.75%
1.3209
GBP/USD
3.4%
1.4%
4.2%
-30B
D
โ†‘0 โ†“3 โ†’0
๐Ÿ”ฎ3/5
Rate
5.253.75
FX
1.351.32
Statements
๐Ÿ‡ง๐Ÿ‡ท
Banco Central do Brasil ๐Ÿ•Š๏ธ โ–ผ
USD/BRL
14.25%
โ†“0.25
5.1818
USD/BRL
5.5%
2.3%
9.8%
+5B
D
โ†‘0 โ†“1 โ†’0
Rate
15.010.5
FX
5.305.16
Statements
๐Ÿ‡จ๐Ÿ‡ฆ
Bank of Canada โš–๏ธ โ–ผ
USD/CAD
2.25%
1.3909
USD/CAD
2.3%
1.7%
3.6%
+3B
N
โ†‘0 โ†“0 โ†’1
Rate
5.002.25
FX
1.391.36
Statements
๐Ÿ‡ท๐Ÿ‡บ
Central Bank of Russia ๐Ÿ•Š๏ธ โ–ผ
USD/RUB
14.25%
โ†“0.25
76.64
USD/RUB
8.7%
1.0%
13.0%
+12B
D
โ†‘0 โ†“3 โ†’0
Rate
21.014.2
FX
78.972.2
Statements
๐Ÿ‡ฆ๐Ÿ‡บ
Reserve Bank of Australia ๐Ÿฆ… โ–ผ
AUD/USD
4.35%
0.6872
AUD/USD
2.4%
1.4%
6.7%
+1B
H
โ†‘1 โ†“0 โ†’0
Rate
4.353.60
FX
0.720.69
Statements
๐Ÿ‡ฐ๐Ÿ‡ท
Bank of Korea โš–๏ธ โ–ผ
USD/KRW
2.50%
1516.65
USD/KRW
2.1%
1.0%
6.9%
+6B
โ€”
Rate
3.502.50
FX
2k1k
Statements
๐Ÿ‡น๐Ÿ‡ท
Central Bank of Turkey ๐Ÿ•Š๏ธ โ–ผ
USD/TRY
37.00%
47.00
USD/TRY
30.9%
3.6%
37.9%
-7B
H
โ†‘0 โ†“1 โ†’0
๐Ÿ”ฎ4/0
Rate
50.037.0
FX
47.046.3
Statements
๐Ÿ‡จ๐Ÿ‡ญ
Swiss National Bank โš–๏ธ โ–ผ
USD/CHF
0.00%
0.7994
USD/CHF
0.2%
1.3%
9.7%
+5B
โ€”
Rate
1.750.00
FX
0.800.78
Statements
๐Ÿ‡ณ๐Ÿ‡ฌ
Central Bank of Nigeria โš–๏ธ โ–ผ
USD/NGN
27.00%
1376.87
USD/NGN
23.0%
4.0%
50.9%
+14B
N
โ†‘0 โ†“0 โ†’1
Rate
27.511.5
FX
1k1k
Statements
๐Ÿ‡ฎ๐Ÿ‡ฑ
Bank of Israel โš–๏ธ โ–ผ
USD/ILS
3.75%
3.1533
USD/ILS
3.3%
2.9%
1.1%
-4B
N
โ†‘0 โ†“0 โ†’1
Rate
4.503.75
FX
3.163.07
Statements
๐Ÿ‡ธ๐Ÿ‡ฌ
Monetary Authority of Singapore โš–๏ธ โ–ผ
USD/SGD
0.87%
โ†“0.49
1.2871
USD/SGD
1.2%
5.0%
5.5%
+214B
N
๐Ÿ”ฎ1/1
Rate
3.880.87
FX
1.291.27
Statements
๐Ÿ‡ฟ๐Ÿ‡ฆ
South African Reserve Bank ๐Ÿ•Š๏ธ โ–ผ
USD/ZAR
7.00%
17.01
USD/ZAR
3.1%
1.1%
9.4%
+1B
D
โ†‘0 โ†“1 โ†’0
Rate
8.256.75
FX
17.216.3
Statements
๐Ÿ‡ฒ๐Ÿ‡ฝ
Banco de Mรฉxico ๐Ÿ•Š๏ธ โ–ผ
USD/MXN
6.50%
17.94
USD/MXN
5.6%
0.6%
8.8%
-0B
D
โ†‘0 โ†“2 โ†’0
๐Ÿ—ฃ0/1
Rate
11.26.50
FX
18.117.5
Statements
๐Ÿ‡ต๐Ÿ‡ฑ
National Bank of Poland โš–๏ธ โ–ผ
USD/PLN
3.75%
3.7184
USD/PLN
2.5%
3.6%
9.2%
-0B
D
โ†‘0 โ†“1 โ†’0
Rate
5.753.75
FX
3.733.65
Statements
๐Ÿ‡ณ๐Ÿ‡ด
Norges Bank โš–๏ธ โ–ผ
USD/NOK
4.25%
9.7427
USD/NOK
2.5%
1.1%
0.5%
+9B
H
โ†‘0 โ†“0 โ†’1
๐Ÿ”ฎ6/1
Rate
4.504.00
FX
9.759.54
Statements
๐Ÿ‡ธ๐Ÿ‡ช
Sveriges Riksbank โš–๏ธ โ–ผ
USD/SEK
1.75%
9.4993
USD/SEK
0.5%
1.5%
5.4%
-1B
H
โ†‘0 โ†“0 โ†’1
๐Ÿ”ฎ1/0
Rate
4.001.75
FX
9.529.11
Statements
๐Ÿ‡ณ๐Ÿ‡ฟ
Reserve Bank of New Zealand ๐Ÿ•Š๏ธ โ–ผ
USD/NZD
2.25%
1.7519
USD/NZD
2.9%
0.5%
2.8%
-3B
D
โ†‘0 โ†“1 โ†’0
Rate
5.502.25
FX
1.751.68
Statements
๐Ÿ‡ญ๐Ÿ‡บ
Magyar Nemzeti Bank ๐Ÿ•Š๏ธ โ–ผ
USD/HUF
6.25%
333.13
USD/HUF
3.3%
0.5%
9.5%
+11B
D
โ†‘0 โ†“1 โ†’0
๐Ÿ”ฎ0/1
Rate
10.06.25
FX
343329
Statements
๐Ÿ‡ท๐Ÿ‡ธ
National Bank of Serbia โš–๏ธ โ–ผ
USD/RSD
5.75%
102.80
USD/RSD
3.1%
2.0%
13.5%
-4B
N
โ†‘0 โ†“0 โ†’1
Rate
6.505.75
FX
103101
Statements
Economic Indicators: Rate = Policy Interest Rate | FX = Exchange Rate vs USD | CPI = Consumer Price Index (YoY%) | GDP = Gross Domestic Product (YoY%) | M2 = Money Supply Growth (YoY%) | TB = Trade Balance (Exports โˆ’ Imports, $B)
Policy Intent: โ†‘ Hike | โ†“ Cut | โ†’ Hold | ๐Ÿ”ฎ Guidance | ๐Ÿ—ฃ Dissent | ๐Ÿฆ Reserves | ๐Ÿ’ง Liquidity