Ledger

Central banks — Fed, ECB, Bank of Japan and Bank of Korea hold rates

The Federal Open Market Committee maintained the target range for the federal funds rate at 3.75–4.00 per cent on 28 October. The decision was approved by a 10–2 vote. Lisa D. Cook and Beth M. Hammack preferred to raise the target range by 0.25 percentage point.

The European Central Bank’s Governing Council kept the deposit facility rate at 2.50 per cent on 29 October.

The Bank of Japan maintained its policy rate at 1.25 per cent on 30 October. The decision was approved by an 8–1 vote. Hajime Takata preferred to raise the rate to 1.5 per cent.

The Bank of Korea held its Base Rate at 3.00 per cent on 22 October. All seven members of the Monetary Policy Board supported the decision.

Sources: Federal Reserve · ECB · Bank of Japan · Bank of Korea

Growth — US and China Q3 GDP

The US Bureau of Economic Analysis reported that real gross domestic product increased at an annual rate of 3.4 per cent in the third quarter of 2026, according to the advance estimate. In the second quarter, real GDP increased 2.2 per cent.

China’s National Bureau of Statistics reported that gross domestic product grew 4.5 per cent year on year in the third quarter of 2026.

Sources: BEA · National Bureau of Statistics of China

Prices — US PCE

The US Bureau of Economic Analysis reported on 29 October that the PCE price index increased 0.5 per cent in September. Excluding food and energy, the PCE price index increased 0.3 per cent. From the same month one year ago, the PCE price index increased 3.6 per cent and the index excluding food and energy increased 3.1 per cent.

Sources: BEA

Next fortnight

The Bank of England’s Monetary Policy Committee meets on 5 November. The US Bureau of Labor Statistics releases the Employment Situation for October on 6 November, the Consumer Price Index for October on 10 November and the Producer Price Index for October on 13 November.

Sources: Bank of England · Bureau of Labor Statistics