Recent discussions among members of the Bank of Canada's governing council reveal concerns that high interest rates may excessively curb inflation, despite reaching the central bank's target of 2%. Meanwhile, the Reserve Bank of India (RBI) is expected to maintain its benchmark policy rate at 6.5% throughout 2024 due to uncertainties surrounding food inflation, with potential rate cuts delayed until early 2025. In contrast, the US Federal Reserve has initiated its first interest rate cut in over four years, reducing rates by 50 basis points to a target range of 4.75% to 5.0%. Federal Reserve officials project a total of up to one percentage point of cuts in 2024, reflecting a range of views on future monetary policy. The RBI's upcoming Monetary Policy Committee meeting is set for October 7-9, where inflation trends will be a key consideration for any potential rate adjustments. Overall, central banks are taking independent approaches amid fluctuating inflation rates globally.