Interest rates and monetary policy
Across the world, central banks are increasing interest rates in response to the growing threat of inflation. In the last three months, monetary policymakers have increased their key interest rates 60 times in many different countries. The US Federal Reserve, for example, has increased its discount rate from 0.25% to 1% this year and the Bank of England has increased its base rate from 0.1% to 1 %. Markets expect US...