Global hikes continue

Global #centralbanks continue the hawkish path. Yesterday #boe hiked 50 bps surprising the consensus, that was expecting 25 bps. Switzerland, Norway and Turkey also announced hikes. Half of the economies represented in the chart below still have negative real interest rates and continue to fight inflation. This is taking a significant amount of liquidity from the system, which is not positive for risky assets. Only Japan, China and Russia are cutting rates, since they have their own unique situations. We’re very close to the tipping point where inflation may abandon the position as the biggest concern in favor eod economic growth.

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Chart source: Charlie Bilello