The world’s major central banks are signaling a more cautious approach as policymakers attempt to balance inflation concerns against slowing economic growth.
The Bank of England has indicated there is no urgency to raise rates despite inflation remaining above target, while investors increasingly believe the Federal Reserve may keep rates elevated longer than previously expected.
Markets are now focused on whether inflation pressures caused by energy prices and geopolitical tensions will delay any future rate cuts.
The outcome will affect everything from mortgages and business loans to stock valuations and consumer spending.
