The Czech Republic's central bank has cut its key interest rate for the seventh time in a row, in a response to slowing inflation. The cut, which had been predicted by analysts, brought the interest rate down by a quarter-point to 4.

Nigeria's central bank surprised the market by raising its benchmark lending rate to 27.25% from 26.75% on Tuesday, with governor Olayemi Cardoso adding that the decision of the monetary policy committee (MPC) was unanimous.

The Reserve Bank of Australia kept interest rates steady, deepening a split with global counterparts including the Federal Reserve that are loosening policy as they grow increasingly confident that inflation is under control.

Australia’s central bank on Tuesday reiterated that interest rate cuts were unlikely in the near term as it held policy steady, but softened its hawkish stance by saying monetary tightening was not discussed.

At its September meeting, the Reserve Bank of Australia held its cash rate at 4.35%, matching market expectations and maintaining borrowing costs for the seventh consecutive meeting. The committee decided to keep the interest rate on balances held in exchange for settlement at 4.

Australia's central bank held interest rates steady on Tuesday as expected, while reiterating that policy needed to stay tight and it was not ruling out further increases if needed to control inflation.

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