Episode Details

Central banks worldwide paused interest rate hikes in April, following the Iran wars impact on oil prices and inflation. The US Federal Reserve, European Central Bank, Bank of England, Canada, New Zealand, and Japan maintained steady rates, while others like Switzerland, Australia, Sweden, and Norway skipped meetings. Oil prices surged, causing inflation concerns and potential rate hikes in the future. In the G-ten group, only Australia raised rates by fifty basis points, with another lift on May fifth. Emerging economies also felt the impact, with only Brazil and Russia cutting rates by seventy-five basis points each, while ten out of eleven others held steady. The Philippines even hiked rates to combat inflation and currency weakness. Analysts believe these countries can better handle energy and food price increases due to higher policy rates, unlike during the COVID-19 pandemic or Russias Ukraine push in 2022. Central banks will likely remain cautious as oil volatility persists and inflation remains a concern, keeping global growth in check.

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