The rate is expected to stay at 5%, after the last decision in August saw interest rates cut for the first time since the pandemic.

The British central bank has emphasized its intention to move steadily to ensure that inflation continues to slow.

The Bank of England on Thursday held interest rates steady, saying it most work to reach its goal of 2% inflation in a sustainable way.

South Africa's central bank cut its main interest rate for the first time in more than four years, as it said it saw inflation staying below the midpoint of its target range as far out as 2026.

South Africa’s central bank cut interest rates by 25 basis points, lowering them from a 15-year high and marking the first easing in more than four years. The monetary policy committee reduced its benchmark rate to 8%,

The Bank of Canada's governing council was split on the outlook for inflation ahead of its Sept 4 decision to cut rates for the third time in a row, minutes published on Wednesday showed. The BoC said on Sept 4 that it was juggling the impact of two opposing forces on inflation - the persistently high cost of shelter and services on one hand and a weakening economy and rising unemployment on the other.

Some Bank of Canada officials are increasingly worried about downside risks to inflation as they decide how to set interest rates, while others see them as more balanced.

The Bank of Canada’s No. 2 official says inflation returning to 2% in August is welcome news for policymakers, who are now increasingly focused on downside risks and spurring economic growth.