-
Charting the Global Economy: ECB Joins Interest Rate-Hike Club
The European Central Bank boosted its key interest rate by a half percentage point, the biggest increase since 2000 and the first in more than a decade as it joins other world monetary authorities trying to rein in rapid inflation. In the UK, inflation hit a four-decade high, placing greater pressure on the Bank of England to respond with a large rate hike of its own next month. However, the Bank of Japan -- facing more moderate inflation as well as a weaker currency -- remains intent on adhering to its ultra-low monetary policy as concerns mount about a hard landing for the world economy. The latest S&P Global ... (full story)