The Central Banks' Watcher

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US July-25 CPI Report
CPI broadly in line with expectations will shift attention to the labor market ahead of the September FOMC meeting. So far, tariff's impact concentrated…
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Gianluca Benigno
Central Bank Commentary: Federal Reserve, BOE and BOJ
Divided committes are now the norm
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Gianluca Benigno
1
China July-25 CPI Inflation Report
China Inflation Steady in July as Factory-Gate Prices Continue to Fall
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Gianluca Benigno
Is Central Bank Independence a Blank Check?
It should not be
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Gianluca Benigno
2
Global Supply Chain Disruptions and Tariffs
Two Shocks, Two Different Channels
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Gianluca Benigno
11
Switzerland July-25 CPI Inflation Report
Inflation higher than expectations both at the headline and core levels support current policy stance.
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Gianluca Benigno

July 2025

Japan June-25 CPI Inflation Report
BOJ Confronts Inflation Dilemma as Tariff Shock Looms.
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Gianluca Benigno
UK June-25 CPI Inflation Report
Inflation came in above expectations at both the headline and core levels, with no improvement in service inflation compared to last month.
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Gianluca Benigno
US June-25 CPI Inflation Report
Broader moderation in services inflation offsets selected increases in goods' components of the CPI, which may be linked to tariff-related effects.
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Gianluca Benigno
China June-25 CPI Inflation Report
Producer deflation deepened further, while consumer inflation edged into marginally positive territory.
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Gianluca Benigno
Switzerland June-25 CPI Inflation Report
A better-than-expected CPI release pushed inflation back into positive territory, with an encouraging 0.2% month-on-month increase.
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Gianluca Benigno

June 2025

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