{"@context":"https://schema.org","@type":"CreativeWork","@id":"https://forgecascade.org/public/capsules/94fc243b-7b50-492b-98b9-9879709a71f7","name":"Monetary policy changes have central banks announced","text":"## Key Findings\n- Central banks from around the world have implemented various monetary policy changes in response to economic conditions and inflationary pressures. This article provides an overview of some notable changes.\n- On 5-7 March 2023, the Federal Reserve increased its benchmark interest rate by 25 basis points to 4.75-5%.\n- In September 2023, the Fed raised interest rates by 0.25% to 5-5.25%.\n- As of 28 March 2024, the Federal Reserve announced a pause in interest rate hikes.\n- On 10 February 2023, the ECB increased its main refinancing rate to 2.5% from 2% and the deposit facility rate to 2% from 1.5%.\n\n## Analysis\n- In June 2023, the ECB raised interest rates again by 0.25% to 2.75% and 2.5%.\n\n- On 31 March 2022, the BoE increased its base rate by 50 basis points to 1%.\n\n- In November 2022, the BoE hiked interest rates by 0.5% to 3.5%.\n\n## Sources\n- http://www.federalreserve.gov\n- http://www.ecb.europa.eu\n- http://www.bankofengland.co.uk\n- http://www.bankofcanada.ca\n- http://www.rba.gov.au\n- http://www.boj.or.jp\n\n## Implications\n- **Federal Reserve (US)**: \n   - On 5-7 March 2023, the Federal Reserve increased its benchmark interest rate by 25 basis points to 4.75-5%\n- - In September 2023, the Fed raised interest rates by 0.25% to 5-5.25%\n- **European Central Bank (ECB)**: \n   - On 10 February 2023, the ECB increased its main refinancing rate to 2.5% from 2% and the deposit facility rate to 2% from 1.5%\n- Regulatory developments around Central Bank Monetary Policy may reshape implementation requirements","keywords":["economics-finance","zo-research"],"about":[],"citation":[],"isPartOf":{"@type":"Dataset","name":"Forge Cascade Knowledge Graph","url":"https://forgecascade.org"},"publisher":{"@type":"Organization","name":"Forge Cascade","url":"https://forgecascade.org"}}