October 17, 2025
United States:
Fed’s Policy Benchmark Rate Rises for Third Time in a Month
The effective federal funds rate edged higher for the third time in a month as the Federal Reserve’s balance-sheet runoff and Treasury auction settlements continue to weigh on funding markets.
The benchmark rate rose one basis point to 4.11% from 4.10% the prior session, New York Fed data released Friday show. It remains within the Federal Open Market Committee’s 4% to 4.25% target range, set last month when policymakers cut borrowing costs.
Europe:
ECB Agrees Policy Is in Good Place as Thoughts on Future Diverge
European Central Bank President Christine Lagarde has taken her mantra that interest rates are in a “good place” to Washington and received backup from nearly all her colleagues that also made the trip.
Policymakers speaking on the sidelines of the IMF’s annual meetings in the US capital echoed Lagarde in signaling that the ECB is unlikely to cut its deposit rate, which has been at 2% since June, at this month’s meeting.
Asia:
BOJ’s Ueda Keeps Door Open for Rate Hike as Decision Nears
Bank of Japan Governor Kazuo Ueda indicated that the bank will continue normalizing policy if confidence in achieving its economic outlook strengthens as he kept the door open for a near-term interest-rate hike.
“There’s no change in our stance that we will adjust the degree of monetary easing if our confidence in hitting the outlook increases,” Ueda told reporters Thursday in Washington after a Group of 20 meeting.
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