24 hours of jumbo interest-rate hikes to cap year of soaring inflation

More than 50 central banks have gone for 75-bp increases, with over 275 rate hikes this year

The world’s biggest central banks will this week wrap up the most aggressive year for interest-rate hikes in four decades with their fight against inflation still not over even as their economies slow.

The US Federal Reserve on Wednesday is set to raise its key rate by 50 basis points (bps) to a range of 4 per cent to 4.5 per cent, the highest since 2007, and to signal more increases in early 2023.

A day later, the European Central Bank and the Bank of England are likely to follow with half-point moves.

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