All major central banks will not raise rates, except the US Fed and Reserve bank of India.

All major central banks will not raise rates, except the US Fed and Reserve bank of India. The UK Monetary Policy Committee voted eight to one against raising rates. China may further decrease its rates instead, as its current goal is to keep momentum in order to maintain its current growth. The ECB still needs to be aware of Greece’s debt problem; moreover, the issue of the Syrian refugees requires the European governments to expand their expenditure. Therefore, the ECB wants to have low interest rates. However, India might be another exception besides the US. Despite India’s dreaming of taking over China, its inflated statistics may require an increase in interest rates to make inflation lower.