BOJ Expected to Hold Rates Steady While Signaling More Hikes Ahead 
BOJ Seen Holding Rates at 1% While Keeping Inflation Risk Warning 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
China Holds Loan Prime Rates Steady for 14th Month as Economic Recovery Remains Uneven 
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure 
Japan Services Producer Prices Rise 3.2% in June, Supporting BOJ Rate Hike Expectations 
Eurozone Bond Yields Fall as Oil Slump Eases Inflation Fears Ahead of Central Bank Meetings 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
The Federal Reserve FOMC left interest rates flat at 4.25%-4.5% in its January meeting, the minutes released on February 19, 2025, indicated. The committee voted on this by a unanimous vote. The Fed awaits further progress toward inflation before acting on the target range. Policy actions, for example, in the form of tariffs, are feared by the officials to be over the 2% target to leave inflation.
FOMC members were upbeat in their expectations of the economy, which they attributed to optimism about ease of government regulations and changing tax policies. Concurrently, the committee acknowledged the risk to the inflation projection, for instance, to changing trade and immigration policies. Specifically, the minutes indicated worries about President Trump's tariffs and their potential impact on inflation. Firms would pass on higher input costs due to potential tariffs to customers.
The Fed will meet again on March 18-19, 2025. Market predictions are anticipating a potential 0.25% July rate reduction.
