The world's major central banks raised interest rates by a cumulative 2,700 basis points in 2022

According to BlockBeats, on December 26, the world's major central banks in 2022 raised interest rates at the fastest pace and largest scale in at least 20 years, in an effort to curb soaring inflation. Over the past 12 months, central banks overseeing the 10 most actively traded currencies have raised interest rates 54 times, tightening by 2,700 basis points, Reuters calculations show. On a monthly basis, the data showed that seven of the 10 major central banks raised rates in December. The Federal Reserve, the European Central Bank, the Bank of England, the Reserve Bank of Australia, Norges Bank, the Bank of Canada and the Swiss National Bank have all raised their benchmark rates by a cumulative 300 basis points this year. Of those, September saw the biggest monthly increase of 550 basis points. (Kim Ten)