Major central banks raised interest rates for the last time in 2022.

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This week, many of the world’s largest central banks will announce their final policy decisions of the year, thereby ending 12 months of aggressive interest rate hikes to curb inflation.

On December 14, the US Federal Reserve (Fed) is expected to raise 50 basis points (bps) and pull the policy rate from 4% to 4.5% – the highest level since 2007.

On December 15, the European Central Bank (ECB) and the Bank of England (BoE) are likely to follow suit with an increase of 50 bps.

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