Interest rates could rise again across the world – here’s why

Interest rates could rise again across the world – here's why. Newly-appointed Fed Chair Kevin Warsh has remained tight-lipped on where he sees interest rates going, but his repeated comments that the central bank's focus should be on slowing price rises has further fuelled expectations of an increase.

What happened

I have watched on with concern as figures from the “manosphere” gain traction across the world alongside the rise of far-right parties, and how thinness appears to be the new norm in Hollywood, with eating disorder content proliferating on X, TikTok and Instagram. Central banks try to limit price rises with higher interest rates. Citing the Middle East conflict and warning inflation was "set to remain well above" its 2% target for some time, the European Central Bank raised interest rates this week to 2.

But despite those predictions, there appears to be broad agreement that the Bank will leave rates at 3. That's because there is "no sign" of the so-called second-round effects of the price shock feeding through the economy, such as workers requesting wage rises or businesses hiking prices, according to Oxford Economics. Yael Selfin, chief economist at KPMG, said that outside of the US, in places such as the UK, the economic environment has been "much weaker" than where it was in 2022, when the last inflation shock hit the world.

Interest rates are already higher than four years ago, she added, and consumers, somewhat scarred by previous price hikes, have changed how they spend.

The wider picture

Graphic by Miguel Roca-Terry and Jess CarrRelated topicsMonetary Policy Committee (MPC)European Central Bank (ECB)InflationBank of EnglandUS Federal ReserveMore on this storyFed has 'work to do' if price rises don't ease for Americans, Warsh says Published28 AugustOil, gas and borrowing costs surge as fears over Middle East escalatePublished4 days agoBorrowers expecting mortgage rates to drop have hopes dashedPublished6 days ago Dozens of eels slithered among the passengers, who appeared not as surprised as I would have expected.

"As long as oil prices remain firm and continue to drift higher, this will add pressure to interest rates," he added. The Steam Frame headset is here, and it may not surprise you: it was supposed to cost less than $1,059. Image source, Getty ImagesByMichael RaceBusiness reporter, Reporting fromNew YorkPublished11 September 2026There's nothing like talk of energy prices and potential higher borrowing costs to remind us that the summer holidays are well and truly over. Other central banks are also responding, with the US and the UK poised to make interest-rate decisions next week.

Up first on Wednesday is the US Federal Reserve, which has held rates steady between 3. Views differ somewhat, with Grace Zwemmer, US economist at Oxford Economics, expecting rates to remain unchanged, but almost universally a rate cut appears to be off the table.

What has been reported

Trump, though, is again pressing for lower rates. Shipments through the Strait of Hormuz waterway, one of the world's busiest oil and gas routes, have been restricted due to the war and a barrel of Brent crude is now around $105 (£78), approaching levels last seen at the outbreak of the conflict. Higher rates also can give people incentives to save instead of spend. But it's a balancing act, as higher rates can also encourage businesses to hold off on investing and hiring.

Millions of UK households are set to see energy bills rise to the highest level for three years heading into the winter and gas prices have risen above 200p per therm for the first time since the end of 2022. "The conditions were in place for employees to push for significant pay rises in response to a significant inflation shock," he said. "Now, hiring is much weaker than average and there is less pressure to recruit – giving employees less leverage to demand higher pay.

“There are no more posts from accounts that you follow from the past 30 days,” it says.

What happens next

Each time I refresh my feed for the next few hours, there is nothing new for me to mindlessly scroll. The top posts are an old man who summarises the latest episodes of Below Deck Mediterranean, a dachshund being pet with a spatula and someone making a cake with the face of Edward Cullen. Explore more on these topicsSocial mediaInstagramFacebookAustralian politicsMetafeaturesShareReuse this contentMore on this storyMore on this storyAustralia’s outdated technology is vulnerable to AI hacking attacks, signals chief saysAustralian fashion brands Cue and Veronika Maine face collapse after ‘difficult period’ – as it happenedInstagram boss says users will be ‘overwhelmed’ with brand content in algorithm-free worldOne Nation under fire for abandoning gas reservation plan in favour of policy benefiting Gina Rinehart Australia is on a collision course with US big tech.

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The report has been compiled by The Daily Waves using information reported across bbc.co.uk, theguardian.com, espn.com, cnbc.com. Details are presented according to the information available at the time of publication and may change as authorities, organisers or other relevant parties provide updates.