Central banks opt for shock and awe to tame inflation (bar one)

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Reuters UK

LONDON (Reuters) -The Federal Reserve this week delivered its biggest interest rate rise in over a quarter of a century and even the Swiss National Bank took markets by surprise with an aggressive rate hike. It leaves the Bank of Japan the only major developed world central bank still clinging to the inflation-is-transitory mantra. Here’s a look at where policymakers stand in the race to contain red-hot inflation. 1) UNITED STATES The Federal Reserve vaulted to the top-hawk spot on June 15, raising the target federal funds rate by three quarters of a percentage point to a 1.5%-1.75% range. It …

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