Most central banks kept their rates unchanged at their recent meetings, while MNB and CNB lowered them. The Fed announced the discontinuation of the liquidity support programme in the banking sector introduced one year ago. Spotlight focuses on Danish monetary policy and the specificities of its approach with currency pegged to the euro and the ERM II membership, while Denmark has negotiated a permanent opt-out from the euro adoption. In our Selected Speech, BoC Governor Tiff Macklem discusses what monetary policy is capable of and what we should not expect from it. Find the latest edition right here.