Three of the world’s highly influential central banks reduced their pace of increase in interest-rate hikes. These banks acknowledged that somewhat price pressures are easing but also stressed that inflation is still far from over.
The Federal Reserve, Bank of England, and European Central Bank increased interest-rates by 50 basis points following previous increase of 75 basis points. Federal Reserve’s decision was unanimous, but some policymakers in UK and Europe were in favor of a more aggressive hike.
Central Bank Chair of USA expressed that the Federal Reserve has more work to do to combat inflation. European Central Bank President Christine Lagarde told investors to be ready for similar moves in the coming times to fight with inflation.
