LONDON, Aug 18 Reuters The Norwegian and New Zealand central banks this week both delivered yet more interest rate hikes and signalled further tightening is round the corner as policymakers globally race to get on top of runaway inflation.

Central banks from the United States to Canada, Australia and Switzerland have lined up with aggressive rate rises recently. The European Central Bank last month delivered its first rate hike since 2011.

Japan, which is yet to lift rates in this cycle, is the holdout dove among the 10 big developed economies.

In total, those central banks have so far raised rates in this cycle by a combined 1,415 basis points.

Here39;s a look at where policymakers stand in the race to contain inflation.

1 UNITED STATES

The Federal Reserve last month delivered its second straight 75 basispoint bps rate rise. Though inflation surprised by not rising in July, Fed officials have reiterated their determination to get on top of redhot price pressures with tighter monetary policy.

Following the inflation print markets reduced their bets on a third 75 bps move in September, now seeing a 40 chance. Even as growth worries mount, analysts say containing inflation will remain the Fed39;s priority.

2 CANADA

The Bank of Canada last month delivered the first 100bps rate increase among the world39;s advanced economies in the current policytightening cycle. It lifted its key policy rate to 2.5.

With annual inflation running way above target and the highest in…