According to The Kobeissi Letter, global central banks have executed 10 rate cuts and 3 hikes in 2025, following a substantial trend of 164 cuts and 32 hikes in 2024. This shift indicates a strategic adjustment compared to the 162 cuts and 6 hikes during the 2020 pandemic. The U.S. has paused rate cuts, while European central banks continue to adjust policies, which could influence trading strategies in forex and bond markets.