Global Banks Hike Up Interest Rates

On Wednesday the United States Federal Reserve continued their incremental increase of the interest rate by a quarter of a percent, bumping the rate up to 2.25 percent. While not featured on the below chart, Indonesia hiked their interest rate by a quarter of a percent Friday as well. Over the course of the past month central banks around the globe have steadily raised interest rates.

The European Union and China’s interest rate has remained unchanged for all of 2018, while Turkey’s interest rate has jumped by over 6 percent to combat rising inflation and international repercussions from a dip in U.S.-Turkish diplomatic relations.