Monetary nerves fray on four continents

published 02.08.2020 16:57

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CENTRAL banks on four continents will project a collective message of nervous unease in interest-rate decisions this week as the persistence of the coronavirus impedes economic recoveries throughout much of the world.

What Bloomberg’s economists say: "A likely cut from Brazil, moves in India to give more traction to past easing, and a reassessment of the shape of the UK recovery shows central banks are not out of the game.

On Wednesday, Bank of Thailand is expected to keep rates steady at an all-time low, seeking to preserve its limited policy space in case the economy worsens further in one of the last MPC meetings chaired by Governor Veerathai Santiprabhob.

On Monday, Colombia’s central bank posts the minutes of its July 31 meeting, where the key rate was cut to 2.25% with possibly one more quarter-point reduction on tap for August.

Two days later, Brazil’s central bank looks set to extend its third-longest easing cycle of the last decade with a quarter-point cut to push the overnight rate to a record-low 2%.

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