The risk of global recession in 2023 increases due to simultaneous rate hikes – Mish Talk

Super Thursday Stocks

The Wall Street Journal reports that interest rate hikes are getting thick and fast

  • Switzerland: Rates increased by 0.75 points to 0.5%, making it one of the last central banks to come out of negative territory.
  • UK: The Bank of England raised its key rate by 0.5 points to 2.25% and will start selling some of its bond holdings.
  • Norway: rate increase of 0.5 points to 2.25%.
  • Indonesia: benchmark rate increase by 0.5 percentage points to 4.25%.
  • Taiwan: The discount rate increased by 0.125 points to 1.625%.
  • Philippines: benchmark overnight lending rate increase by half a point to 4.25%.
  • South Africa: Raised the main repo rate by 0.75 points to 6.25%.
  • Japan: The Bank of Japan kept the benchmark rate at minus 0.1%. Tokyo then stepped in to support the yen.
  • Turkey: Cut its main rate by 1 percentage point to 12%, continuing its contrarian easing campaign.

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