Central banks of the three economies, the BoE, the ECB, and the Fed, increased their interest rates by 50 basis points in 2022. Although prices were falling in 2023, their interest rates were kept unchanged. Central banks were happy that inflation was falling, but unhappy that inflation was not falling fast enough to reach their 2% inflation target. The BoE, the ECB, and the Fed were right on this point since the probability of not achieving their targets increased in the three central banks. Their reactions in terms of future interest rate changes differ, and their responses were not clear as to how and when they would decide to make the suggested cuts to their interest rates.