What is inside
Public view shows each currency's current central bank tone and directional policy bias.
Members get deeper intelligence layers including score-weighted ranking, regime change signals, and cross-market context.
| Currency | Central Bank | Tone | Bias |
|---|---|---|---|
| USD | Federal Reserve (FOMC) | Hawkish | Hold with hawkish shift under new Chair Warsh; forward guidance language on easing bias removed; SEP dot plot raised, markets now roughly split on a September hike after oil-driven inflation prints tied to the Iran conflict. |
| JPY | Bank of Japan (BoJ) | Hawkish | Continuing gradual policy normalization; rate hiked to a 30-year high with explicit guidance toward further increases; next meeting July 30-31 not yet occurred. |
| EUR | European Central Bank (ECB) | Hawkish | Held all three key rates unchanged on 23 July 2026 as expected, pausing after June's first hike since 2023 to assess the intensity and duration of the renewed Middle East energy shock; Governing Council reaffirmed a data-dependent, meeting-by-meeting approach with no explicit forward guidance, but markets now price a ~93% probability of a 25bp hike to 2.50% at the 10 September meeting. |
| AUD | Reserve Bank of Australia (RBA) | Hawkish | Held after three hikes earlier in 2026; Board retains a tightening bias with a hike not ruled out at the July 30 meeting. |
| NZD | Reserve Bank of New Zealand (RBNZ) | Hawkish | Surprise hike delivered by consensus as financial conditions eased; committee sees the OCR settling near 2.75-3.00% by year-end. |
| GBP | Bank of England (MPC) | Hawkish | Held at 3.75% but hawkish dissent has doubled (7-2 vote, two members favoring a hike to 4.00%); services inflation remains sticky. |
| CAD | Bank of Canada (BoC) | Neutral | Held for a sixth consecutive meeting; balancing energy-driven inflation risk from the Iran conflict against soft domestic growth, now complicated by fresh US tariffs on Canadian goods. |
| CHF | Swiss National Bank (SNB) | Neutral | Rate held at the zero bound with elevated FX-intervention readiness to counter safe-haven franc appreciation. |