LONDON: Australia was the latest major central bank to raise rates and on Tuesday hinted at further hikes, even as most major central banks steadily move closer to a pause in aggressive monetary tightening as inflationary pressures show signs of easing.Last week, the U.S. Federal Reserve implemented its s
LONDON: Australia was the latest major central bank to raise rates and on Tuesday hinted at further hikes, even as most major central banks steadily move closer to a pause in aggressive monetary tightening as inflationary pressures show signs of easing.
The Bank of Canada on Jan. 18 lifted its key rate by 25 bps to 4.5 per cent, the highest in 15 years. Minutes from the meeting showed the RBNZ also considered a larger 100-bps hike but opted for a smaller increase. The central bank raised its forecast for its peak interest rate to 5.5 per cent, up from a previous forecast of 4.1 per cent.
Norway, which raised the curtain on the hawkish global trend by first raising rates in September 2021, kept its policy rate unchanged at 2.75 per cent on Jan. 19. While euro zone headline inflation eased for a third month in January, falling to 8.5 per cent from 9.2 per cent in December, core inflation held steady at 5.2 per cent.
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