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 |
|---|---|---|---|
| AUD | Reserve Bank of Australia (RBA) | Hawkish | Raised cash rate twice in 2026 to 4.1%; inflation above target; further hike expected at May meeting; strong domestic demand and tight labour market support tightening |
| USD | Federal Reserve System (Fed) | Hawkish | On hold at 3.50-3.75%; March FOMC minutes signal some members open to rate hike if energy-driven inflation persists; dot plot projects one cut in 2026 but seven of 19 members see no cuts this year |
| EUR | European Central Bank (ECB) | Hawkish | Held deposit rate at 2.0% in March; upside risks to inflation from energy shock; governing council has shifted tone more hawkish with markets pricing possible rate hikes later in 2026 |
| GBP | Bank of England (BoE) | Hawkish | Unanimously held at 3.75% in March; tone materially more hawkish than expected; markets now pricing rate hikes after energy shock; CPI seen rising to 3-3.5% near-term |
| JPY | Bank of Japan (BoJ) | Hawkish | Held at 0.75% in March; gradual tightening bias intact; real rates remain significantly negative; next hike expected October 2026 or earlier if yen depreciates |
| CAD | Bank of Canada (BoC) | Neutral | Held at 2.25% in March; balancing trade-war headwinds to growth against rising inflation from energy shock; signaling data-dependence with no preset path |
| NZD | Reserve Bank of New Zealand (RBNZ) | Neutral | Held OCR at 2.25% on April 8; looking through temporary energy price spike; weak domestic demand and spare capacity moderating medium-term inflation; rate hike risk if second-round inflation effects emerge |
| CHF | Swiss National Bank (SNB) | Neutral | Held at 0.00% in March; signaling heightened willingness to intervene in FX to prevent CHF appreciation; inflation barely above zero; rate change unlikely until 2027 |