Central Banks Hold Rates as AI Investment Complicates the Inflation Outlook

Amundi Investment Institute examines how major central banks are balancing resilient growth against persistent inflation and investment-driven demand.

• The Fed, ECB and Bank of Japan kept rates unchanged, preserving flexibility while assessing the impact of previous tightening.
• Strong AI-related investment is supporting US growth but may also add near-term inflation pressure through higher infrastructure demand.
• Bonds regained safe-haven appeal as US equities weakened, while softer yields reflected rising investor caution ahead of the US midterms.

Explore the full report for Amundi’s latest global market and policy outlook.