Get ready for one of the busiest weeks of the year in global monetary policy.
US investors will have all eyes focused on Wednesday’s Federal Reserve meeting — Kevin Warsh’s first as chairman
But the Fed is only one piece of a globally busy stretch in which four of the world’s major central banks deliver policy decisions in less than three days. The Reserve Bank of Australia kicks things off Tuesday, followed by the Bank of Japan later that day. The Federal Reserve follows on Wednesday, and then the Bank of England closes out the run of meetings on Thursday.
The concentration of central bank decisions comes at a moment when policymakers around the world are confronting the class question of an energy shock: whether to address concerns over inflation or growth. For much of the past several years before the war, central banks confronted a steady picture: Inflation was easing, economic growth remained resilient, and policymakers could focus on calibrating the pace of policy normalization. Yet, 2025 and 2026 both brought major shocks.