Contributing writer
Writes about the distance between what a central bank says and what it is understood to have said.
The statement, republished by the BIS on 2 November, ties the 50 basis point cut to inflation slowing to 9.3% in September and a stronger tenge, with risks still tilted upward.
The ECB's latest round of talks with firms found subdued consumer spending, falling headcounts in manufacturing and investment driven by software, data centres and defence.
The annual balance of payments review puts the 2025 deficit at £91.6 billion, the second largest in the G7, with the net international liability position rising to £60.7 billion.
The full text of the October Outlook Report, released on 2 November, traces business-to-business price rises into consumer goods and expects durable goods inflation to accelerate toward end-2026.
RBI data show imports of services at $20.1 billion, up 12.6%, leaving a surplus of about $19.2 billion for the month; July to September figures are provisional.
In her Senate statement before this week's board meeting, the governor said upside risks have materialised after 100 basis points of increases this year, and asked whether tightening so far is enough.
The Bank of England's effective rate on newly drawn secured loans rose for a third month, new fixed-term deposits paid 4.42%, while rates on new consumer loans eased to 9.85%.
The advance estimate shows 13.48% annualised growth, exports up 21.12% and investment up 26.36%; growth for the first three quarters is 14.22%.
A draft supervisory statement says existing rules are no barrier if tokenised assets can be valued, transferred and realised in stress; responses are due by 12 February 2027.
The ECB's fourth-quarter Survey of Professional Forecasters raised 2027 inflation by 0.4 points to 2.6% and growth for 2026 to 1.0%; longer-term expectations stayed anchored at 2.0%.