The central banks' governors gathered at the US Federal Reserve's annual conference at Jackson Hole delivered a significant message: the era of high borrowing costs is likely ending.
Fed Chair Jerome Powell indicated that the time has come for rate cuts, signaling a shift in focus from inflation to concerns about unemployment and economic growth.
Other leading central banks have shown a similar tendency to lower borrowing costs, suggesting a coordinated approach to stabilizing economies rather than prioritizing price levels.
The context of the current economic climate, where inflation is stabilizing and unemployment is a rising concern, underlines the urgency for rate adjustments.
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