**Global Rate Hike Cycle**

**15 of 33 major central banks (45%) raised interest rates over the past six months**, the largest share since **2023**. The figure is nearing **~55%**, recorded in **2018** and **2011**.

By comparison, the share peaked at **~95%** in **2022** after post-pandemic stimulus and a resulting surge in global inflation.

**54 central banks** have hiked rates so far **this year**. For the first time since **September 2023**, more central banks have hiked than cut rates over a rolling **three-month period**.

“**Higher for longer**” is back.

**[@futures](https://t.me/futures)