Explainer: Why central banks, including the RBI, raising lending rates aggressively?
Updated: 04 Jul 2022, 01:08 PM IST
TL;DR.Across the OECD group of wealthy nations, inflation has reached 9.2 per cent - the highest since 1988. Britain has the highest rate in the G7 group of rich countries - the UK, US, Canada, France, Italy, Germany and Japan - with the consumer price index (CPI) measure of inflation hitting 9 per cent in April, the highest since 1982, a report published by The Guardian said.
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde and U.S. Federal Reserve Chair Jerome Powell attend the ECB Forum on Central Banking in Sintra, Portugal, June 29, 2022. European Central Bank/Handout via REUTERS/File Photo