According to analysis by market watchdog The Kobeissi Letter, approximately 45% of central banks globally have raised interest rates in the past three months, a three-year high. This figure has surged by 40 percentage points since March. In contrast, between March 2024 and March 2026, more central banks cut interest rates than raised them. Furthermore, central banks worldwide have implemented 42 interest rate hikes in the past six months, the highest level since the second half of 2023. This number has quadrupled in the past seven months, comparable to the rate hike cycle of 2019. The global monetary tightening cycle is intensifying.
