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Russia's central bank will need two to three months to make sure that inflation is steadily declining before taking any decision on interest rate cuts, the bank's governor Elvira Nabiullina told RBC media on Sunday. The central bank raised its key interest rate by 100 basis points to 16% earlier in December, hiking for the fifth consecutive meeting in response to stubborn inflation, and suggested that its tightening cycle was nearly over. The bank will next convene to set its benchmark rate on Feb. 16.

The Czech Republic’s central bank cut its key interest rate Thursday hoping to give the country's struggling economy a boost. The cut by a quarter of a percentage point brought the interest rate down to 6.75%. Last year the bank raised its key interest rate as it tried to combat soaring inflation.

Risk factors like rising delinquencies have signaled to banks to keep lending standards tight and rates elevated.

Mortgage rates recently hit their highest levels in more than two decades, pricing many out of the market. Here's what to expect in 2024.

Inflation is slowing steadily, but it’s too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair Jerome Powell said Friday. Speaking at Spelman College in Atlanta, Powell noted that consumer prices, excluding volatile food and energy costs, rose at just a 2.5% annual rate in the past six months.