The US central bank has held its key interest rate at its current 22-year high as it seeks to stabilise price rises, which had recently reached near-record levels. The Federal Reserve's rate target remains at 5.25%-5.5%.
The European Central Bank left interest rates at 4%, snapping a record streak of 10 rate hikes. Weak earnings have plagued eurozone countries as inflation smothers spending.
The Russian ruble hit its lowest level since March 2022 when the currency crashed following Moscow's invasion of Ukraine. Inflation, meanwhile, has remained persistently high.
Turkey has increased its base interest rates by a whopping 6.5%, the clearest indication yet that the unconventional economic policy dubbed "Erdonomics" might be history now in Recep Tayyip Erdogan's new government.
The US Federal Reserve has hiked interest rates for the tenth time in a row, bringing the key lending rate to its highest level since 2007. But the central bank has signalled it could pause further rate hikes, as inflation eases and turmoil continues to spread across the American banking sector.