Major central banks are cautiously beginning to cut interest rates after a period of aggressive hikes to combat inflation. While the European Central Bank has paused after an initial cut, and the U.S. Federal Reserve may follow suit in September, other central banks like those in Switzerland, Sweden, and Canada have already made multiple cuts. Meanwhile, the Bank of England and the Reserve Bank of Australia remain hesitant, with the latter even considering further hikes. The Bank of Japan stands out as an outlier, having raised rates for the first time in 17 years. The gradual easing reflects varying economic conditions and inflation trends across different regions.