Global major central bank interest rate decisions in September.

date
18/09/2025
1. The Federal Reserve cut interest rates by 25 basis points to 4.00%-4.25%, marking the first rate cut since December. The Federal Reserve hinted at two more rate cuts before the end of the year. 2. The Bank of Canada cut its key policy rate to a three-year low of 2.5%, the first rate cut in six months. The bank indicated that it is prepared to cut rates again if economic risks increase in the coming months, but suggested that it is not in a rush to continue cutting rates in October. 3. As expected, the European Central Bank maintained interest rates unchanged and expressed optimism about growth and inflation, suppressing market expectations of further cuts in borrowing costs. 4. The Central Bank of Russia cut its key rate by 100 basis points to 17%, lower than analysts' expectations. The bank stated that inflation is still above target and inflation expectations remain high. 5. The Central Bank of Brazil kept interest rates unchanged for the second consecutive policy meeting and indicated that it will maintain its stance for a longer period, but also hinted at the possibility of raising rates if necessary. 6. The Central Bank of Indonesia unexpectedly cut interest rates again, marking the sixth rate cut since the start of a loose monetary policy cycle in September last year. The bank stated that it is necessary to stimulate economic growth. To be announced 1. The Bank of England is expected to maintain interest rates tonight, paving the way to end the quarterly rate cuts, but another rate cut in November cannot be ruled out. 2. The Bank of Japan is expected to keep interest rates unchanged tomorrow, possibly signaling a rate hike in October, but may also maintain rates unchanged for the rest of the year and raise them again in January next year. 3. In the next two weeks: People's Bank of China loan market quoted interest rates. Resolutions on interest rates from the Swedish Riksbank, Swiss National Bank, and Reserve Bank of Australia.