According to economists, the COVID-19 epidemic, the conflict in Ukraine, and the rise in commodity prices have all had an influence on industrialized countries
“As a result, some prices decreased while others significantly increased.” With various economic stimulus measures, Professor Kulish claimed that officials in Australia, the United States, and Europe “threw everything at it.”
Approaches took By the Countries
According to Professor Kulish, global supply chain problems and growing demand for products and services in various regions of the world are the main causes of rising inflation. “We’re still suffering in the aftermath of that shock,” he added, adding that the Ukraine crisis and a rise in commodity prices also served to further boost inflation.
“Inflation is a goal shared by central banks. In order to reduce inflation to a target level, they began raising interest rates.”
In this month’s ninth rate increase since March, the US Federal Reserve Bank increased its benchmark rate by 0.25 percentage points to between 4.5 and 4.75 percent. The bank warned that “ongoing increases” would be required to tame excessive inflation. Nonetheless, the head of the Federal Reserve noted that the rate of inflation had slowed.
- Global supply chain problems and growing demand for products are the main causes of rising inflation.
- US Federal Reserve Bank increased its benchmark rate by 0.25 percentage points to between 4.5 and 4.75 percent.
- The monetary policy rate of the Argentine was left at 75% last month.
The 3.35 percent cash rate, according to the RBA governor, was probably not at its highest point, and more hikes would be required to reduce inflation.
According to Ms. Mousina, China has been less affected by high inflation because the country’s tight COVID-zero policy, which kept some areas of the country under lockdown, prevented a relative demand rebound. Its yearly inflation rate continues to be less than 2%.
Over the course of the last year, the National Bank has diminished loan costs. Also, extra rate decreases are likely approaching -She talked.
Nonetheless, Professor Kulish issued a warning about summarising China’s monetary policy based on a single measure.
Considering that Argentina’s inflation rate is just shy of 100%, he claimed that nations like Argentina do not adhere to the widely accepted inflation-targeting strategies. The monetary policy rate was left at 75% by the Board of the Central Bank of the Argentine Republic last month.
