US, Japan, and UK central banks maintain interest rates

Central banks in the United States, Japan, and the United Kingdom have decided to keep interest rates steady. They are closely watching how trade policies could affect their economies. Recent trade tariffs have raised concerns about a potential slowdown in global growth. Federal Reserve chair Jerome Powell expressed confidence about the economy despite worries about slowing growth and rising prices linked to tariffs. The Bank of Japan also mentioned trade policies as a risk factor in its economic outlook. Meanwhile, Bank of England governor Andrew Bailey advised caution, given the uncertain global situation. Other central banks globally have also held their rates steady. The Riksbank in Sweden maintained its benchmark rate, while Taiwan kept its rates at a high level. Countries like South Africa, Indonesia, and Russia also chose not to change their rates. In contrast, Switzerland, Iceland, and Morocco have lowered their rates. President Trump's trade policies have created concerns about slower growth and higher inflation. Federal Reserve officials kept their benchmark rate unchanged for the second consecutive meeting as they balance between slowing economic signals and persistent inflation. Powell stated that the inflation effects from tariffs may be temporary. In Asia, China's economy showed signs of resilience at the start of the year, with better-than-expected consumption and production figures. However, ongoing trade tensions remain a concern. India is also planning to implement new trade tariffs, joining other countries in protecting their steel industries against a surge of imports, particularly from China.