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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat($n)),notifLabel:document.querySelector(".".concat(Xn))};t.notifDropdown&&so(e,t)}))}()}};]]>By Alun John and Naomi RovnickThu, December 11, 2025 at 12:52 PM GMT+1 4 min readBy Alun John and Naomi RovnickLONDON, Dec 11 (Reuters) - Central banks in big economies are signaling a change of stance, with many now on hold after a long easing cycle, and policymakers flagging that their next moves, in time, could be rate hikes.The U.S. Federal Reserve is something of an outlier. It ​cut rates this week, and markets still see more easing next year, but the Fed expects one further rate cut, so it too could be nearing the ‌end.Here's where central banks in 10 developed markets stand.1/ SWITZERLANDThe Swiss National Bank left its policy interest rate unchanged at 0% on Thursday, the lowest among developed-market central banks, and said the recent agreement to reduce U.S. tariffs ‌on Swiss goods had improved the economic outlook.Even though Swiss inflation is at zero as the strong safe-haven franc cheapens import costs, the bar for bringing rates negative is high, and economists expect price growth to recover mildly next year and the SNB to stay on hold throughout 2026.2/ CANADAThe Bank of Canada held its key rate at 2.25% on Wednesday, after 225 basis points (bps) of easing this cycle. Governor Tiff Macklem said the economy was proving resilient to U.S. trade measures.The BOC is expected to keep rates on hold until 2027, after government spending and robust oil exports lifted ⁠third-quarter growth to 2.6% and the labour market strengthened.3/ SWEDENSweden's Riksbank also ‌expects previous monetary easing to begin lifting GDP growth and with year-on-year inflation running just above its 2% target, analysts anticipate it will hold rates at 1.75% on Dec. 18, with a lengthy pause to follow.4/ NEW ZEALANDWith unemployment stuck at a nine-year high, turning hawkish will be a tough ‍choice for new Reserve Bank of New Zealand boss Anna Breman.With a string of punchy rate cuts having helped propel inflation to the top end of the central bank's target range, however, money markets see New Zealand's cash rate nearing 3% by December 2026 from 2.25% currently.5/ EURO ZONEThe European Central Bank has been firmly on hold at 2% since June and is likely to remain so next week.A ​shift appears to be underway however. For the last few months, a further rate cut was seen as a possibility, but not anymore as traders reacted to ECB board member ‌Isabel Schnabel saying Monday the ECB's next move may be a hike, even if not immediately.6/ UNITED STATESThe Federal Reserve cut rates on Wednesday, in a divided vote, but hinted it will now pause as officials look for clearer signals about the job market and inflation that "remains somewhat elevated."Condiciones y Política de privacidadPrivacy & Cookie SettingsMore InfoS&P Futures6,863.00 -28.75 (-0.42%)Dow Futures48,068.00 -39.00 (-0.08%)Nasdaq Futures25,625.50 -172.50 (-0.67%)Russell 2000 Futures2,562.50 -1.40 (-0.05%)VIX15.99 +0.22 (+1.40%)Gold4,238.70 +14.00 (+0.33%)Tickers destacadosORCL Oracle Corporation 223.01 +1.48 (+0.67%)BTC-USD Bitcoin USD 90,267.87 -1,867.00 (-2.03%)GM General Motors Company 80.80 +3.64 (+4.72%)ADBE Adobe Inc. 343.13 -1.19 (-0.35%)MSFT Microsoft Corporation 478.56 -13.46 (-2.74%)Cartera de valoresInicia sesión para acceder a tu cartera de valoresIniciar sesiónPrincipales ganadoresPLAB Photronics, Inc. 37.35 +11.66 (+45.39%)WRBY Warby Parker Inc. 29.57 +6.35 (+27.35%)BRZE Braze, Inc. 36.19 +5.54 (+18.08%)GEV GE Vernova Inc. 723.00 +97.70 (+15.62%)OLMA Olema Pharmaceuticals, Inc. 30.68 +4.10 (+15.43%)Principales perdedoresAVAV AeroVironment, Inc. 245.25 -36.17 (-12.85%)TMC TMC the metals company Inc. 6.85 -0.89 (-11.50%)DNLI Denali Therapeutics Inc. 17.57 -2.09 (-10.63%)ONDS Ondas Holdings Inc. 8.33 -0.90 (-9.80%)AEG Aegon Ltd. 7.21 -0.68 (-8.62%)Más activosNVDA NVIDIA Corporation 183.78 -1.19 (-0.64%)BBAI BigBear.ai Holdings, Inc. 6.61 -0.10 (-1.49%)PLUG Plug Power Inc. 2.2600 +0.0500 (+2.26%)WBD Warner Bros. Discovery, Inc. 29.53 +1.27 (+4.49%)ONDS Ondas Holdings Inc. 8.33 -0.90 (-9.80%)Principales eventos económicosEventos de beneficiosMis eventos de beneficiosEventos de beneficios