Not just the US Fed, these 9 other central banks have also hiked interest rates

Norway’s central bank, which is confronting inflation near a three-decade high, raised its key benchmark on Thursday by 50 basis points to 2.25 per cent.

The Swiss National Bank on Thursday raised its benchmark interest rate by 75 basis points to 0.5 per cent from a negative 0.25 per cent.
Inflation in Switzerland hit 3.5 per cent last month, its highest rate in three decades, leading to the rate hike.

South Africa’s central bank raised its repurchase rate by 75 bps to 6.25 per cent from 5.5 per cent. The rise in interest rate took the benchmark to its January 2020 level.

The United Arab Emirates raised its base rate by 75 bps to 3.15 per cent from 2.40 per cent, effective from 22 September.

The Saudi Central Bank (SAMA) hiked its reverse repo rate by 75 bps to 3.25 per cent from 2.50 percent.

The Hong Kong Monetary Authority raised the borrowing rate by 0.75 basis points to 3.5 per cent from 2.75 per cent on Thursday.

The central bank of the Philippines hiked its interest rate by 50 bps to 4.25 per cent, the highest since August 2019.

Indonesia’s central bank raised interest rates by 50 bps to 4.25 per cent from 3.75 per cent.

Taiwan’s central bank raised its policy rate by 12.5 bps to 1.625 per cent, effective from October 1.