Comment: Rates on the up

Monetary policymakers from Mumbia to Madrid to Pretoria stepped firmly on the monetary brakes yesterday, with no less than six central banks hiking rates.

COMMENT BY CENTRALBANKNEWS

The ECB yesterday increased eurozone interest rates by 25 basis points, taking them to 2.75% - their highest level in more than three years. In doing so, it did, however, steer clear of a 50 basis point hike that some had feared after European CPI inflation jumped 2.5% and 2.4% in May and April respectively

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