The Russian central bank cut its key interest rate by 200 basis points to 18% on Friday, as expected, hoping to revive lending and boost economic growth after data showed inflation was slowing down.

Turkey's central bank on Thursday cut its key interest rate by three points points to 43%, returning down the path of monetary easing. The step marked the first rate reduction since April, when the bank hiked rates to 46% in the wake of the controversial arrest of Istanbul Mayor Ekrem Imamoglu, which sent the Turkish lira tumbling.

The European Central Bank probably isn't going to cut interest rates again on Thursday. That's because the bank's leaders don't know what kind of headwinds they'll be facing from U.S. trade policy.