Global central banks extend rate hike push in November

LONDON – 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.

Central banks overseeing six of the 10 most heavily traded currencies delivered 350 basis points (bps) of rate hikes between them last month.

The U.S. Federal Reserve, the Bank of England, the Reserve Bank of Australia, Norway’s Norges Bank, Sweden’s Riksbank and the Reserve Bank of New Zealand all raised interest rates in November.

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.

The latest moves have brought total rate …

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