Central banks take a breather, though more hikes are to come

Major central banks paused interest rate hikes this week, but more increases are expected, according to the latest reports. The Federal Reserve and European Central Bank maintained stable rates this week, despite inflation being above their targets. However, the Bank of England is poised to raise rates, marking its first increase of the year. The Bank of Japan will also likely stay on hold, but central bank meetings next week are anticipated to see hikes from other major economies.