Officials from major global central banks, including the Federal Reserve, have hinted at a firm commitment to lowering or continuing to lower interest rates

ChainCatcher news, officials from three major central banks hinted on Friday that they will firmly lower or continue to lower interest rates in the coming months, marking the end of the high borrowing cost era as the global economy emerges from post-pandemic inflation control. Federal Reserve Chairman Powell stated at the Jackson Hole meeting, "It's time for policy adjustments." He almost committed to a rate cut at the Fed's meeting in September. The determination of the start date for rate cuts, along with many large central banks around the world working in the same direction, has alleviated some of the investors' anxiety.

Following the landmark rate cut in June, several members of the European Central Bank—Finnish Central Bank Governor Rehn, Latvian Central Bank Governor Kazaks, Croatian Central Bank Governor Vujcic, and Portuguese Central Bank Governor Centeno—expressed their support for another rate cut next month. Bank of England Governor Bailey indicated in a prepared speech that the risks of persistent inflation are diminishing, suggesting an openness to further rate cuts. However, Powell and other Fed officials did not provide much guidance on how quickly they plan to continue lowering rates in the coming months. KPMG Chief Economist Diane Swonk said, "It's all about selectivity and how they adjust their 'descent'." "This speech clearly indicates that the labor market is now their top priority."