Global Central Banks
REFERENCEPolicy rates, stance, QT status and focus per major central bank — REFERENCE snapshot. A central-bank calendar connector upgrades this to live.
Updated engine
Easing-leaning banks
5/6
Cutting or loosening now.
Next decision window
Sep/Oct 2026
Fed · ECB · BOE in Sep, RBI in Oct.
Dollar read
Rate differentials compress
Reflation pressure on the USD — see Confluence Engine (DXY 39/100).
USD · FED
Federal Reserve
4.25% prev 4.50%
- Next meeting
- Sep 10, 2026
- Balance sheet
- QT near exhaustion (RRP drained)
- Focus
- Core PCE toward 2%; labour-market cooling
REFERENCE Federal Reserve
EUR · ECB
European Central Bank
1.90% prev 2.15%
- Next meeting
- Sep 10, 2026
- Balance sheet
- APP runoff; reinvestment debate
- Focus
- Services inflation stickiness; growth plateau
REFERENCE European Central Bank
JPY · BOJ
Bank of Japan
0.50% prev 0.50%
- Next meeting
- Sep 21, 2026
- Balance sheet
- Normalization done; JGB purchases reduced
- Focus
- Wage-transmission must proceed before further hikes
REFERENCE Bank of Japan
GBP · BOE
Bank of England
3.75% prev 4.00%
- Next meeting
- Sep 18, 2026
- Balance sheet
- QT run-off continuing
- Focus
- Services inflation; fiscal budget pass-through
REFERENCE Bank of England
INR · RBI
Reserve Bank of India
4.40% prev 4.75%
- Next meeting
- Oct 08, 2026
- Balance sheet
- Liquidity fine-tuning; forex intervention
- Focus
- Growth support; INR stability; core disinflation
REFERENCE Reserve Bank of India
CNY · PBOC
People's Bank of China
3.00% (1Y LPR) prev 3.10%
- Next meeting
- Sep update
- Balance sheet
- MLF toolkits; reserve requirement cuts
- Focus
- Property credit; deflation watch; FX stability
REFERENCE People's Bank of China