Besides Indonesia, These Are the G20 Countries That Raised Their Benchmark Interest Rates in August 2022

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Reza Pahlevi 24/08/2022 14:20 WIB

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Besides Indonesia, six other G20 countries raised their benchmark interest rates in August 2022.

G20 Countries that Raised Their Benchmark Interest Rates (August 2022)

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Besides Indonesia, These Are the G20 Countries That Raised Their Benchmark Interest Rates in August 2022

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G20 Countries that Raised Their Benchmark Interest Rates (August 2022)

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Bank Indonesia (BI) raised its benchmark interest rate by 25 basis points (bps) to 3.75% on Tuesday (August 23, 2022). This is the first time BI has raised interest rates since February 2021.

Six other G20 countries also raised their interest rates in August 2022: the United Kingdom, Australia, India, Mexico, Brazil, and Argentina.

Argentina raised its interest rate by 950 bps to 69.5% this month. The significant increase is due to inflation exceeding 70% in the country.

Brazil raised its interest rate by 50 bps to 13.75%. Mexico increased its rate by 75 bps to 8.5%, and India by 50 bps to 5.4%.

Australia also raised its interest rate by 50 bps to 1.85%, and the United Kingdom by 50 bps to 1.75%.

These countries implemented benchmark interest rate policies to curb inflation. Limited commodity supply, rising energy prices, and geopolitical conflicts are some of the reasons for this year's high inflation.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Besides Indonesia, These Are the G20 Countries That Raised Their Benchmark Interest Rates in August 2022

Besides Indonesia, These Are the G20 Countries That Raised Their Benchmark Interest Rates in August 2022

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Besides Indonesia, These Are the G20 Countries That Raised Their Benchmark Interest Rates in August 2022

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