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Global rate hikes reach fever pitch in race against inflation

A record 80 rate increases in 6 months drain money from risk assets

Federal Reserve Chair Jerome Powell deliver televised remarks as brokers at the New York Stock Exchange watch on June 15.   © Reuters

TOKYO -- Central banks across the world are picking up the pace of interest hikes, with developed nations raising rates to fight inflation and emerging economies following suit to defend their currencies. 

Rates were increased a record 80 times in the first six months of 2022, a tabulation by Nikkei shows. Of those, emerging countries accounted for 60 times.

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