Global central banks extend rate hike push in November

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Global central banks extend rate hike push in November
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The pace and scale of rate hikes delivered by central banks in November picked up speed again as policy makers around the globe battle decade high inflation.

The European Central Bank, the Bank of Canada, the Swiss National Bank and the Bank of Japan did not hold rate setting meetings in November."Interest rates will continue to rise," said Alexandra Dimitrijvic at S&P Global Ratings, looking ahead to 2023. "Central banks' determination to bring down inflation suggests that policy rates need to go higher still."the U.S.

Some nascent signs that inflation could be slowing in the United States have brought cheer to markets in recent days, with Fed officials scheduled to meet on Dec. 13 and 14.the U.S. central bank could scale back the pace of its rate increases "as soon as December". Data from emerging market central banks showed a similar pattern. Eight out of 18 central banks delivered a total 400 bps of rate hikes in November - up from 325 bps in October, but some way off the 800-plus bps monthly tallies in both June and July.

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