Central banks worldwide are holding intensive policy meetings this week, with most maintaining interest rates unchanged to counter inflation risks

Gate News reports that on March 19, all non-U.S. currencies strengthened, with the U.S. dollar index under pressure, falling over 1% in late trading on Thursday in New York. This week is a rare super central bank week, with policy meetings held by the central banks of the U.S., Japan, the UK, Canada, and the Eurozone, as well as several emerging economies. On Wednesday, the Federal Reserve and the Bank of Canada both decided to keep interest rates unchanged; on Thursday, the Bank of Japan, the Bank of England, the European Central Bank, and the central banks of Switzerland and Sweden made similar decisions. These central banks explicitly stated they would remain vigilant, concerned that rising energy prices could trigger inflation across broader economic sectors. Even Brazil’s central bank, which has the highest interest rates among major economies, only slightly lowered its benchmark rate by 25 basis points to 14.75%, compared to market expectations of a 50 basis point cut. Charu Chanana, Chief Investment Strategist at Saxo Bank in Singapore, said, “The escalation of the Iran situation seems to be a turning point for the market, as the conflict is no longer just about military headlines or the Strait of Hormuz blockade. It is now impacting the lifeblood of the global energy system. What’s unsettling the market now is the increasing risk of stagflation.”