Our Scans · (FS.1.02) Central Banking · Weekly Summary

• [New] Goldman Sachs forecasts gold could climb toward $5,400 by the end of 2026, driven by continued central bank buying and sustained safe-haven demand. American Standard Gold
• [New] Experts warn of a 2026 policy effectiveness trap where demographic shifts and credit exhaustion render central bank interventions powerless. TheBoard
• [New] S&P predicts headline inflation to stay elevated through 2026 and possibly 2027 before easing by 2028-2029, supported by tight monetary policy, narrower deficits, and slower consumer lending growth. The Astana Times
• [New] The Bank of England's Monetary Policy Committee remains divided over whether inflation will remain on target. Natixis - Natixis CIB
• [New] An exchange rate shock could trigger a change in course for monetary policy, Natixis CIB believes an appreciation of the Euro against the US Dollar to 1.25 or higher could justify a rate cut in 2026 as Europe seeks to protect competitiveness. Natixis - Natixis CIB
• [New] Key risks to monitor include a sharper-than-expected global slowdown, inflation resurgence, political instability in Europe, and potential challenges to US Federal Reserve independence. https://www.bangkokpost.com
• [New] The global central banks will remain focused on controlling inflationary pressure instead of adding more and more gold to their reserve, and their monetary policy will restart around stopping further interest rate cuts. investing.com
• [New] While the cooling of inflation has raised hopes of further interest rate cuts from the Bank of England, analysts cautioned that any cuts would themselves be a product of an economy still struggling for momentum. The Guardian
• [New] Bitcoin's response to Federal Reserve policy, yield movements, dollar strength, and commodity-driven inflation risk highlights its deepening integration into the macro asset complex. investing.com
• [New] A persistently strong U.S. dollar, potentially fueled by stubborn inflation or a hawkish pivot from the Federal Reserve, poses a significant risk to silver prices. Whalesbook
• [New] NAHB expects mortgage rates to remain slightly above 6% in 2026 and unevenly trend slightly lower as the Federal Reserve is projected to make two 25 basis point rate cuts in 2026 to reach a terminal federal funds rate of 3.25% by the end of 2026. GrowthSpotter
• [New] The Bank of England is monitoring wage settlements closely as it assesses whether inflation pressures will allow it to lower interest rates further. RTE
• [New] Ongoing threats to Federal Reserve independence further undermine the credibility of US monetary policy and regulated institutions. Nasser Saidi & Associates
• [New] In other news, a stronger-than-expected US jobs report and weaker-than-expected inflation pushed back Federal Reserve rate cut expectations to June. ATB Financial
• [New] Given the challenging global backdrop and Bank Negara Malaysia's January monetary policy guidance signalling a hold bias, neither shifting toward easing nor tightening, we expect the overnight policy rate to remain at 2.75% through 2026. The Star
• [New] Last week the Bank of England decided to hold interest rates at 3.75% after a very close vote, signalling that cuts could be on the horizon if inflation continues to fall. Myers Clark
• Sustained Chinese selling pressure on US government bonds has broader global interest rate implications, prompting discussion over whether China will pursue a slow, gradual sale or a faster, larger-scale, approach. ATB Financial
• A narrow vote leaves UK interest rates steady at 3.75%, but policymakers and economists signal that inflation relief and economic pressures could bring multiple rate cuts later this year. Grand Pinnacle Tribune
• Last week Turkey's central bank raised its end-2026 inflation forecast range to from 13-19 percent to 15-21 percent and projected inflation at between 6 and 12% at the end of 2027, according to its Inflation Report 2026 I. Turkish Minute
• There is an expectation that the Bank of Japan will be hiking its interest rate soon, which is leading traders to get out of short Yen carry trade positions. / Japan DailyForex
• The Bank of England will watch a slew of data closely in the coming days after a knife-edge decision to keep interest rates steady on concerns that inflation is still uncomfortably high. financialpost
• Rapid debt accumulation is also expected to raise interest servicing costs, complicate monetary policy decisions at the Federal Reserve, and weigh on the international standing of the US dollar in global markets. DID PRESS AGENCY

Last updated: 26 February 2026