The top 10 major central bank decisions affecting global financial markets this year are:
1. Federal Reserve (United States) – The Federal Reserve has made several key decisions, including initiating large-scale asset purchases and implementing emergency interest rate cuts in response to the economic impact of the COVID-19 pandemic.
2. European Central Bank (European Union) – The ECB has introduced a Pandemic Emergency Purchase Programme (PEPP) to support the eurozone economy and maintain financial stability during the pandemic.
3. Bank of England (United Kingdom) – The Bank of England reduced interest rates and launched a significant bond-buying program to counteract the economic fallout caused by COVID-19 and Brexit uncertainties.
4. Reserve Bank of Australia (Australia) – The RBA cut its benchmark interest rate to a record low and implemented a bond-buying program to support the Australian economy during the pandemic.
5. Bank of Japan (Japan) – The Bank of Japan has maintained its ultra-loose monetary policy stance, including negative interest rates, to stimulate economic growth and combat deflation.
6. People’s Bank of China (China) – The PBOC has implemented various measures, including interest rate cuts and liquidity injections, to support China’s economy amidst the COVID-19 crisis and trade tensions.
7. Bank of Canada (Canada) – The Bank of Canada has implemented multiple interest rate cuts and launched bond-buying programs to support the Canadian economy during the pandemic.
8. Reserve Bank of India (India) – The RBI has deployed various monetary easing measures, including interest rate cuts and liquidity injections, to mitigate the economic impact of COVID-19 and support India’s recovery.
9. Swiss National Bank (Switzerland) – The Swiss National Bank has maintained its negative interest rates and intervened in currency markets to curb the appreciation of the Swiss franc, ensuring price stability and supporting the Swiss economy.
10. Reserve Bank of New Zealand (New Zealand) – The RBNZ has implemented multiple interest rate cuts and introduced a significant quantitative easing program in response to the COVID-19 crisis and to stimulate New Zealand’s economy.