The Fed has, recently, announced a pause on interest rate hike and an intention to slow the reduction of its holdings of Treasury securities in May and to end the reduction program in September. The Fed’s move partly helps to reduce pressure on other central banks. While inflation remains low due to lower oil prices compared to last year, global economic growth are expected to slow, especially, in some major economies such as the US, China, Europe and, Japan. With that being said, the other central banks will likely continue to maintain their current monetary policies. The European Central Bank may not raise interest rates this year and continue to reinvest when bonds mature. Meanwhile the Bank of Japan will continue its expansionary monetary policy by keeping interest rates low and buying ETFs to reach the inflation target of 2%. China's situation seems more complicated, as the government wants to improve its financial system while supporting small and medium-sized companies to boost economic growth.