The Central Bank of Sri Lanka monetary board reduced its lending rate by 100 basis points to 5.5 percent. The deposit rate was cut by the same amount to 4.5 percent.
Egypt’s central bank hiked overnight interest rates by a greater-than-expected 300 basis points, warning that inflationary pressures were building.
World share markets edged higher on Thursday after the US Federal Reserve promised to keep its support in place, though another rise in global bond yields and the dollar showed not everyone was convinced.
Sri Lanka on Saturday announced a five-day share trading halt after the crisis-hit country hiked interest rates and declared a default on its external debt during the traditional New Year holiday,
This decision comes after the Federal Reserve announced an increase in the interest rate on reserve balances by 50 basis points at its meeting held on May 04, 2022.
Reserve Bank of India Governor Shaktikanta Das on Wednesday said that the Monetary Policy Committee (MPC) of the central bank, in an off-cycle meeting, hiked the repo rate by 40 basis points (bps) to 4.40 per cent with immediate effect.
The ECB had for months said that its first step will be to raise rates to a neutral setting, where it was neither driving nor restricting growth, but some policymakers are now advocating more aggressive action, saying the ECB should go further to tame inflationary pressures.
The US Federal Reserve has raised the bank interest rate from a near-zero level to 0.25 to 0.50 per cent range, for the first time in four years as inflation stubbornly stood at 6.1 per cent. Federal Reserve Chairman Jerome Powell said, “As I looked round the
Britain’s economy is so far proving resilient to a surge in interest rates over the past year and a half, but it will take time for the full impact to feed through, the Bank of England (BoE) said on Wednesday. The Bank of England last month raised rates to 5 per cent that had stood at 0.1 per cent at the end of 2021, raising concerns about