Central Banks around the world starting to fight the inflation they caused

Full Article Here:

https://wolfstreet.com/2022/01/02/interest-rates-mortgage-rates-prices-of-homes-stocks-and-other-assets-as-central-banks-crack-down-on-raging-inflation-what-i-see-for-2022/

"The Bank of Japan ended credit expansioin *QE) in May 2021 – the longest-running money-printer has stopped printing money.

The Fed started tapering QE in November and doubled the speed of the taper in December. If it doesn’t accelerate it further, QE will end in March.

The Bank of Canada ended QE in October. 

The Bank of England ended QE in December. 

The ECB announced that it would cut its huge QE program in half by March. 

Several smaller central banks that did QE have ended it.

Central banks in developed markets already hiked rates:

• The Bank of England: by 15 basis points, in December, for liftoff.
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• The National Bank of Poland: three hikes, totaling 165 basis points, to 1.75%.
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• The Czech National Bank: five times by a total of 350 basis points, to 3.75%.
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• Norway’s Norges Bank: for the second time, by a total of 50 basis points, to 0.5%.
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• The National Bank of Hungary: many small hikes totaling 180 basis points, to 2.4%.
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• The Bank of Korea: twice, by 50 basis points total, to 1.0%.
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• The Reserve Bank of New Zealand: twice, by 50 basis points total, to 0.75%.
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• The Central Bank of Iceland: four times, by 125 basis points in total, to 2.0%.

Central banks in developing markets have been much more aggressive in hiking rates to get inflation under control and protect their currencies; 

a plunge in their currencies would make dollar-funding very difficult. 

They’re trying to stay well ahead of the Fed. Among them:

• The Central Bank of Russia: seven times, totaling 425 basis points, to 8.5%.
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• The Bank of Brazil: multiple huge rate hikes, by 725 basis points since March, to 9.25%.
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• The Bank of the Republic (Colombia): three hikes totaling 125 basis points, to 3.0%.
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• The Bank of Mexico: five hikes, totaling 150 basis points, to 5.5%.
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• The Central Bank of Chile: four hikes, 350 basis points in total, to 4.0%.
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• The State Bank of Pakistan: three hikes, totaling 275 basis points, to 9.75%.
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• The Central Bank of Armenia: seven hikes, totaling 350 basis points, to 7.75%.
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• The Central Reserve Bank of Peru: five hikes, totaling 225 basis points, to 2.5%.