Among G20 nations, Brazil raises its benchmark interest rate the most since the beginning of the year.
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Inflation rates in several G20 countries have sharply increased since the beginning of the year. To curb inflation, these countries have raised their benchmark interest rates.
Citing the "APBN Kita" press conference, Brazil has seen the highest increase in its benchmark interest rate among G20 countries since the beginning of the year, amounting to 400 basis points (bps). Brazil's benchmark interest rate is now at 13.25%, with an inflation rate of 11.9%.
Mexico has raised its interest rate by 225 bps since the beginning of 2022. Mexico's benchmark interest rate stands at 225 bps, with an inflation rate of 8%.
Furthermore, the United States has raised its benchmark interest rate by 150 bps, the United Kingdom by 100 bps, and the European Union by 50 bps. The European Union's benchmark interest rate also applies to its member states.
Indonesia, however, has not yet raised its benchmark interest rate, which has remained at 3.5% since February 2021. Nevertheless, with inflation expected to continue rising, analysts predict the benchmark interest rate could reach 3.75%-4.75% this year.
"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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