BREAKING: There have been 64 rate cuts globally year-to-date, the most since 2020. This puts 2025 on track for the highest number of reductions on record, Bank of America. The European Central Bank alone has lowered its rates 4 times so far this year. The Bank of Canada, the Bank of England, and the Swiss National Bank have each cut rates twice. The Reserve Bank of New Zealand and the Reserve Bank of Australia have cut rates 3 and 2 times, respectively. Meanwhile, the Federal Reserve is signaling a continued pause. The entire world is easing while the Fed stays on hold.