Economics
Central Banks Keep Surprising With Hikes as Inflation Fears Soar
- Canada, Korea accelerate interest-rate hikes, others surprise
- Fed seen possibly raising by full percentage point this month
A member of the media outside the Bank of Canada in Ottawa, Ontario, on July 13.
Photographer: David Kawai/BloombergThis article is for subscribers only.
Central banks across the globe are speeding up interest-rate hikes, seeking to crush an inflation surge partly of their own making.
Wednesday saw Canada’s central bank hike a greater-than-expected full percentage point following two half-point moves, South Korea raise by a half point after several quarter-point moves, and New Zealand increase by a half point for a third straight meeting.