More central banks raised interest rates mid-week, citing rising inflation and expressing hollow hopes of “containment.” The board of the Czech National Bank has raised the key interest rate by 1.25 percentage points to 7 percent, the highest rate since 1999. This was the seventh consecutive increase in the base rate by more than 0.25 percentage points.
Norges Bank, the central bank of Norway raised its interest rate 50 base points from 0.75 to 1.25, its highest rate hike in 20 years.
