Business Standard

What global central banks have done on interest rate hikes so far

Many key economies have raised rates significantly in recent times, with Russia increasing them by a staggering 20%

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Illustration: Ajay Mohanty

Sachin P Mampatta Mumbai
Global central banks have increased interest rates from their pandemic lows through multiple rate hikes.

Russia has had to increase interest rates drastically amid geopolitical tensions. Interest rates there at 20 per cent, are now 15.75 percentage points higher than the pandemic low. But it is not the only country with aggressive rate hikes, according to a Business Standard collation of central bank action across multiple countries. Brazil at 11.75 per cent has a 9.75 percentage point higher interest rate than its low during the worst of the pandemic. Central banks had earlier cut their interest rates to help support

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First Published: Mar 22 2022 | 8:55 PM IST

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