A new round of global sharp interest rate hikes has begun

Mumbai: Central banks around the world have become increasingly worried about high inflation. The central banks of the countries of the world have been increasing the interest rates for some time now to control the high inflation in their respective countries. Another round of aggressive interest rate hikes has now begun. The entire world is worried about inflation today.

The European Central Bank (ECB) on Thursday raised the interest rate by 75 basis points to one and a half percent. ECB's interest rate has reached the highest level since 2009.

There is a strong possibility of an increase in the interest rate in the meeting of the American Federal Reserve next week. Inflation in America is running at a forty-year high. Due to high inflation, the American Federal Reserve has also undertaken a continuous hike exercise.

The Bank of Canada also announced an interest rate hike of half a percentage point on Wednesday. At home, the Reserve Bank's Monetary Policy Committee (MPC) has called a special meeting on November 3.

In which inflation and interest rate are to be discussed. The meeting is believed to have been convened to discuss a report to be submitted to the government on inflation in the country remaining above the fixed ceiling for nine consecutive months.

Due to Corona and then the Russia-Ukraine war, the prices of petrol-diesel and natural gas are rising, the inflation in the countries of the world has reached the highest level of many years.