Upcoming Global Central Bank Rate Decisions: February 02 - February 06 2026
Enduring Markets Sunday Newsletter
Welcome to this week’s Enduring Markets’ Sunday Newsletter, providing a look ahead at the crucial interest rate decisions from central banks across the globe.
We’ve compiled the schedule and a brief summary of the official press releases from each MPC’s most recent policy meetings.
Tuesday, February 3, 2026
Australia: Reserve Bank of Australia (RBA)
Previous Decision: Hold (December 9, 2025)
Key Rate: 3.60% (Cash Rate Target)
Summary: In its final meeting of 2025, the RBA Board left the cash rate unchanged. Governor Bullock noted that while inflation had moderated, services inflation remained “sticky” and domestic demand was resilient. The Board maintained a restrictive stance to ensure inflation returns to the 2–3% target range in 2026, signalling that the “last mile” of disinflation would require patience.
Latest Press Release: Statement by the Monetary Policy Board
Schedule: The RBA will announce its first monetary policy decision of 2026 on Tuesday, February 3, at 2:30 PM (AEDT).
Wednesday, February 4, 2026
Iceland: Central Bank of Iceland (SI)
Previous Decision: Hold (November 20, 2025)
Key Rate: 8.50% (Key Interest Rate)
Summary: The Monetary Policy Committee (MPC) kept the rate steady in late 2025. The decision reflected a cautious approach to “persistent” domestic inflation, which, despite falling, remained above the 2.5% target. The Committee emphasized that the current tight stance was necessary to anchor long-term inflation expectations.
Latest Press Release: Statements of the Monetary Policy Committee
Schedule: The Central Bank of Iceland is scheduled to announce its interest rate decision on Wednesday, February 4.
Poland: National Bank of Poland (NBP)
Previous Decision: Hold (January 14, 2026)
Key Rate: 4.00% (Reference Rate)
Summary: In its first meeting of the year (just three weeks ago), the Monetary Policy Council (MPC) kept the reference rate unchanged at 4.00%, pausing after the aggressive cuts of late 2025. The Council stated that the current level is appropriate to support the economy while monitoring the impact of recent fiscal changes. Note: The NBP operates on a monthly schedule, so this February meeting follows quickly on the heels of the January decision.
Latest Press Release: MPC Decisions and Press Releases
Schedule: The MPC is holding a two-day meeting on February 3–4, with a decision expected in the afternoon on Wednesday, February 4.
Thursday, February 5, 2026
Eurozone: European Central Bank (ECB)
Previous Decision: Hold (December 18, 2025)
Key Rate: 2.00% (Deposit Facility Rate)
Summary: The Governing Council maintained the three key ECB interest rates in December, judging that the current policy stance was making a “substantial contribution” to keeping inflation at the 2% target. President Lagarde noted that while the disinflationary process is well advanced, domestic price pressures remain elevated due to wage growth.
Latest Press Release: Monetary policy decisions
Schedule: The Governing Council will meet in Frankfurt, with the rate decision announced on Thursday, February 5, at 2:15 PM (CET).
United Kingdom: Bank of England (BoE)
Previous Decision: Hold (December 18, 2025)
Key Rate: 4.00% (Bank Rate)
Summary: The MPC voted to maintain the Bank Rate at 4.00% to close out 2025. The Committee judged that previous rate cuts were working through the economy, but decided against a further reduction in December to guard against second-round inflation effects from the labor market.
Latest Press Release: Monetary Policy Summary and Minutes
Schedule: The MPC’s next summary and minutes will be published on Thursday, February 5, at 12:00 PM (GMT).
Mexico: Banco de Mexico (Banxico)
Previous Decision: Cut by 25 bps (December 18, 2025)
Key Rate: 9.75% (Overnight Interbank Target Rate)
Summary: In its final decision of 2025, Banxico cut the reference rate, continuing its easing cycle in response to the Federal Reserve’s moves and a favorable domestic inflation outlook. The Board noted that the restrictive stance had successfully guided inflation downwards, allowing for a gradual normalization of the policy rate.
Latest Press Release: Anuncios de las decisiones de política monetaria
Schedule: Banxico’s first monetary policy announcement of 2026 is scheduled for Thursday, February 5, at 1:00 PM (Mexico City time).
Friday, February 6, 2026
India: Reserve Bank of India (RBI)
Previous Decision: Cut by 25 bps (December 5, 2025)
Key Rate: 6.25% (Repo Rate)
Summary: The RBI MPC delivered a 25 basis point cut in December 2025, shifting its stance to “neutral.” The decision was driven by headline inflation falling comfortably within the 4% target band and a desire to support private consumption and rural demand. The Governor signaled that future actions would depend on food price dynamics.
Latest Press Release: Monetary Policy Statements
Schedule: The RBI MPC’s three-day meeting concludes on Friday, February 6, with the resolution announced at 10:00 AM (IST).