- Despite recent upheaval in the global banking sector, central banks are still raising interest rates.
- The Federal Reserve raised US interest rates to a range between 4.75% and 5%.
- Swiss National Bank raised rates to 1.5%, while Norway’s central bank hiked its key interest rate to 3%.
- Bank of England raised its rate to 4.25%, with two of the nine voting members dissenting in favour of holding on at 4%.
- Central banks may eventually have to choose between fighting inflation or protecting financial stability.
It’s Business as Usual for Central Bankers
Crisis? What crisis?
John Stepek
