Central banks raise interest rates as global inflation persists

Major central banks are shifting toward tighter monetary policies as energy shocks drive inflation across developed economies. The U.S. Federal Reserve unanimously raised interest rates by 25 basis points to a range of 3.75–4.00%. Fed Chair Kevin Warsh noted that inflation has remained above target for over five years, emphasizing a hawkish stance to combat persistent price pressures despite political criticism from Donald Trump.

In the Eurozone, inflation rose to 3.2% in August, driven largely by a 14.3% year-on-year increase in energy prices. This surge complicates the European Central Bank's decision-making process, as energy-driven spikes contrast with a slight decline in core inflation. Regional disparities remain high, with Romania reporting 6.3% inflation while Sweden sits at 0.3%.

In Poland, core inflation increased to 3.3% in August, up from 3.1% in July. The headline CPI reached 3.4% or 3.5% depending on the specific metric used. The rise in core inflation suggests that price pressures are spreading from energy into the broader economy, potentially delaying future interest rate cuts by the National Bank of Poland.