Charting the Global Economy: Fed Reins In Rate-Cut Expectations

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Central bankers in North America’s two largest economies lowered borrowing costs this week, though yields on government debt climbed after the heads of US Federal Reserve and the Bank of Canada damped expectations for further reductions by year-end.

The European Central Bank kept borrowing costs unchanged for a third straight meeting, with inflation in check and the economy expanding. The Bank of Japan also left interest rates on hold, though two policymakers dissented in favor of an increase.