Why the rest of the world may be done with rate rises

Many of the major central banks have decided to hold interest rates steady, but few officials are yet declaring victory over inflation.

Sam Fleming, Martin Arnold and Colby Smith

Nov 5, 2023 – 7.53am

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Eurozone central bank governors enjoyed a night out dancing to the theme song from Zorba the Greek last week after they met in Athens and unanimously agreed to stop raising interest rates for the first time in 15 months.

The rate-setters could be forgiven for letting their hair down after the surprisingly harmonious meeting. Even the most hawkish members of the European Central Bank’s governing council went along with the decision to forgo another increase in borrowing costs, following a steep drop in inflation in the single currency area.

Financial Times