Global Interest Rates in Aggregate
Comment of the Day

May 20 2022

Commentary by Eoin Treacy

Global Interest Rates in Aggregate

Eoin Treacy's view

As inflation has continued to surprise on the upside, countries all over the world are accelerating their efforts to raise rates. Brazil’s Selic Target rate is now 12.7% and the EU is beginning to talk about moving deposit rates out of negative territory.

We tend to think of interest rates as barometers of efforts by central banks to control domestic factors. However, there is also the additional point that if interest rates are rising everywhere, the availability of cheap cash is declining and competition for what is available becomes more fervent.  

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