Central Bank Bias Scoreboards

BI held the policy rate at 5.75%. Rupiah and inflation defence plus new portfolio-inflow measures keep a hawkish bias, while liquidity and growth support lower the score.

Focus: BI Rate, rupiah stability, imported inflation, portfolio flows, liquidity transmission.

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China

Last: 2026-07-20Next: 2026-08-20 est.

PBoC

-1.2Accommodative LPR hold

Score updated: 20 Jul 2026Previous: -1.3 on 6 Jul 2026

July LPRs held at 3.0%/3.5%; no fresh price cut, but low loan rates and accommodative stance remain.

Focus: LPR, MLF, RRR, OMO, property support, credit impulse, CNY.

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South Korea

Last: 2026-07-16Next: 2026-08-28 est.

BoK

+8.4Very hawkish hike

Score updated: 16 Jul 2026Previous: +6.4 on 28 May 2026; validated 17 Jun 2026

Base Rate raised to 2.75%; unanimous vote, stronger growth, higher core CPI pressure and further-hike guidance dominate.

Focus: Base Rate, core CPI forecast, growth revision, housing debt, press conference.

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Malaysia

Last: 2026-07-09Next: 2026-09-04 est.

BNM

+0.8Neutral-firm hold

Score updated: 9 Jul 2026Previous: +0.4 on 7 May 2026

OPR held at 2.75%; resilient 4-5% growth outlook offsets contained inflation.

Focus: OPR, growth/inflation ranges, ringgit and external risk.

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New Zealand

Last: 2026-07-08Next: 2026-08-19 est.

RBNZ

+5.7Cautious hawkish hike

Score updated: 8 Jul 2026Previous: -1.4 on 28 May 2026

RBNZ raised OCR to 2.50%; further hikes appear likely but timing and risk balance are uncertain.

Focus: OCR track, MPS forecasts, non-tradables CPI, unemployment.

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Thailand

Last: 2026-06-24Next: 2026-08-13 est.

BoT

-0.4Near-neutral dovish hold

Score updated: 24 Jun 2026Previous: -0.8 on 11 Jun 2026

BoT held at 1.00%; soft inflation still leans dovish, but the growth forecast upgrade reduces cut urgency.

Focus: MPC statement, presentation, tourism, inflation, debt.

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United Kingdom

Last: 2026-06-18Next: 2026-07-30

BoE

+2.6Mild hawkish hold

Score updated: 18 Jun 2026Previous: +2.5 on 30 Apr 2026 MPR setup

Bank Rate held at 3.75%, but two MPC members voted to hike and inflation optionality stayed alive.

Focus: MPC vote split, inflation forecast, labour slack, second-round effects.

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Taiwan

Last: 2026-06-18Next: 2026-09-17 est.

CBC Taiwan

+3.8Neutral-hawkish hold

Score updated: 18 Jun 2026Previous: +1.8 on 19 Mar 2026

Rates held, but GDP/CPI/core CPI forecasts and money/credit assumptions were upgraded.

Focus: Forecast revisions, credit/property, FX and financial stability.

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Philippines

Last: 2026-06-18Next: 2026-08-13 est.

BSP

+7.2Strong hawkish hike

Score updated: 18 Jun 2026Previous: +5.2 on 23 May 2026 est.

Policy rate raised to 4.75%; oil/fertilizer/food pressure and further-hike warning dominate.

Focus: Inflation risk balance, food, oil, peso, governor guidance.

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United States

Last: 2026-06-17Next: 2026-07-29

FOMC

+7.6Very hawkish minutes validation

Score updated: 8 Jul 2026 minutesPrevious: +7.0 on 24 Jun 2026 speech scan

8 July minutes showed a hike case, divided inflation path and concern that policy may not be restrictive enough.

Focus: Statement language, SEP dots, minutes, inflation forecasts, Warsh Q&A.

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Japan

Last: 2026-06-16Next: 2026-07-31

BoJ

+7.2Strong hawkish hike

Score updated: 24-25 Jun 2026Previous: +6.5 on 16 Jun 2026

Policy rate lifted to 1.00%; 24-25 June post-meeting materials validated normalisation risk.

Focus: Rate path, Outlook Report, Summary of Opinions, speeches, wage-price dynamics.

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Australia

Last: 2026-06-16Next: 2026-08-11

RBA

+5.8Hawkish minutes validation

Score updated: 30 Jun 2026 minutesPrevious: +4.9 on 25 Jun 2026 review scan

RBA held at 4.35%; 30 June minutes confirmed restrictive policy, material inflation concern, and a live hike option.

Focus: Statement, June minutes, forecasts, labour market, trimmed mean CPI.

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Euro Area

Last: 2026-06-11Next: 2026-07-23 14:15 CET pending

ECB

+7.4Strong hawkish hike

Score updated: 18 Jun 2026 Lane scanPrevious: +7.4 on 11 Jun 2026 ECB hike

The 23 July decision is scheduled for 14:15 CET and is not yet published. The 11 June hike remains the score anchor until the official release.

Focus: 23 July decision, staff projections, Lagarde press conference, services inflation.

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India

Last: 2026-06-05Next: 2026-08-06

RBI

+2.2Mild hawkish hold

Score updated: 6 Jul 2026Previous: +2.2 on 1 Jul 2026

6 July VRR and money-market releases are operational; repo hold and 19 June minutes remain the bias anchor.

Focus: MPC projection table, governor statement, minutes, food/fuel risks.

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Singapore

Last: 2026-04-14 est.Next: 2026-07 pending

MAS

+0.8Neutral-hawkish FX hold

Score updated: 14 Apr 2026 est.Previous: +0.6 on 14 Jan 2026 est.

MAS uses the S$NEER policy band rather than a policy rate; no official July policy statement was captured in this refresh.

Focus: S$NEER slope, band centre/width, core inflation, growth and imported costs.

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Sorted by latest policy meeting or policy fixing date. Next dates marked "est." are estimates from regular meeting cadence where a clean official calendar was not available during this refresh. Forecast blocks use the latest official forecast vintage when a central bank does not update projections at every meeting.

23 Jul 2026 Refresh Audit

Official central-bank pages and targeted official searches were checked for meetings, speeches, research/papers, minutes, and market-operation updates posted after the current score anchor.

Bank	Latest item found / checked	Event type	Dashboard action
FOMC	13-16 Jul 2026: Waller/Cook/Jefferson speeches and 14-15 Jul Chair Warsh semiannual testimony; July FOMC is 28-29 Jul.	Speeches/testimony/calendar	No score change; June minutes remain the policy-bias anchor at +7.6.
RBA	8 Jul 2026: Sarah Hunter speech on supply shocks and monetary-policy trade-offs.	Speech	No score change; speech reinforces supply-shock vigilance but does not override the 30 Jun minutes score of +5.8.
CBC Taiwan	Official site checked after 18 Jun decision for rate/forecast-relevant items.	Site scan	No new monetary-policy score change found in this pass.
BoE	Official MPC calendar checked; next MPC decision remains 30 Jul 2026.	Calendar/site scan	No newer MPC item captured that changes the +2.6 bias.
ECB	23 Jul 2026 decision scheduled for 14:15 CET; press conference scheduled for 14:45 CET.	Calendar/site scan / meeting pending	Decision was not yet published at refresh time; 11 Jun hike score remains +7.4.
BoK	16 Jul 2026: Base Rate raised 25 bp to 2.75% with opening press-conference remarks.	Central bank meeting / press conference	Score raised to +8.4; unanimous hike, stronger growth, higher core pressure, financial-stability risk and further-hike stance.
RBNZ	8 Jul 2026: OCR raised 25 bp to 2.50%.	Central bank meeting	Score flipped to +5.7 from -1.4; cautious hike starts removing stimulus.
BoJ	24 Jun Summary of Opinions and 25 Jun Tamura speech.	Minutes/speech	Score raised to +7.2; post-meeting materials validate hawkish normalisation.
RBI	Official releases checked after 6 Jul VRR/money-market operations; next MPC is 6 Aug.	Liquidity operations / calendar scan	No new MPC guidance; score unchanged at +2.2.
BI	22 Jul 2026: BI Rate held at 5.75%; deposit facility 4.75% and lending facility 6.50%.	Central bank meeting	Score lowered to +4.8: rupiah/inflation defence and portfolio-inflow measures remain hawkish, offset by the hold and expanded liquidity/growth support.
BoT	24 Jun MPC decision already captured; no later score-changing item found.	Meeting scan	No change.
BNM	9 Jul 2026: OPR held at 2.75%.	Central bank meeting	Score nudged to +0.8; resilient growth makes hold firmer, contained inflation caps hawkishness.
PBoC	20 Jul 2026: 1Y LPR held at 3.0% and over-5Y LPR held at 3.5%.	Policy fixing	Score updated to -1.2; accommodative hold, not a fresh easing move.
BSP	Official media/speech search checked after 18 Jun hike.	Site/search scan	No newer score-changing Monetary Board item captured.
MAS	Official news/policy statement scan plus July preview checks.	Site/search scan	No official July policy statement captured; score unchanged at +0.8 and next review marked pending.