Officials in some countries started cutting rates last year, but others, including those in Europe and the United States, have taken a more cautious approach.

Turkey's central bank held its main interest rate steady at 50% for a sixth consecutive month on Thursday as expected, but reiterated that it remained highly attentive to inflation risks.

Taiwan’s central bank held rates steady with a watchful eye on inflation, declining to join the Federal Reserve and a growing number of its Asian counterparts in starting to ease monetary policy.

Follow live coverage of the Federal Reserve's September policy meeting, including the interest-rate decision, summary of economic projections, and Chairman Jerome Powell's news conference today.

South Africa's central bank cut its main interest rate for the first time in more than four years, as it said it saw inflation staying below the midpoint of its target range as far out as 2026.

The central bank said in a statement Friday that “growth in domestic demand is still significantly outstripping the capabilities to expand the supply of goods and services.” It held out the prospect of more rate increases to return inflation from the current 9.

Russia's central bank on Friday raised interest rates to 19 percent amid the country's ongoing Ukraine offensive, warning inflation was running too high and it needed to cool the economy.

Russia's central bank unexpectedly raised its benchmark interest rate by 100 basis points to 19% on Friday, saying that inflation remained stubbornly high and action was needed to reduce it.

The Russian central bank, striving to combat inflation, has raised interest rates to 19 percent. According to AFP, inflationary pressure is increasing due to public spending intended to support the offensive in Ukraine.