Global central banks hit pause in October after September hiking spree

In October, global central banks largely paused their rate hikes following a series of increases in the previous month, despite persistent inflation concerns. Canada was the only central bank among the 10 most heavily traded currencies to raise rates, while the US Federal Reserve, the European Central Bank, New Zealand, and Japan maintained their policies.

The pause, however, does not signal the end of the tightening cycle, with central banks signaling that more hikes may be necessary to address inflation. Emerging economies also showed mixed signals, with some central banks hiking rates while others resumed easing cycles.

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