G10 central banks deliver 350 bps of rate hikes last month
Emerging central banks tightened policy by 400 bps
Hiking cycle coming to an end in many developing economies

LONDON, Dec 5 Reuters The pace and scale of rate hikes delivered by central banks in November picked up speed again as policy makers around the globe battle decade high inflation.

Central banks overseeing six of the 10 most heavily traded currencies delivered 350 basis points bps of rate hikes between them last month.

The U.S. Federal Reserve, the Bank of England, the Reserve Bank of Australia, Norway39;s Norges Bank, Sweden39;s Riksbank and the Reserve Bank of New Zealand all raised interest rates in November.

The European Central Bank, the Bank of Canada, the Swiss National Bank and the Bank of Japan did not hold rate setting meetings in November.

The latest moves have brought total rate hikes in 2022 from G10 central banks to 2,400 bps.

Interest rates will continue to rise, said Alexandra Dimitrijvic at SP Global Ratings, looking ahead to 2023. Central banks39; determination to bring down inflation suggests that policy rates need to go higher still.

Global financial markets have been on a roller coaster in recent weeks as investors try to gauge how fast and how far the U.S. Federal Reserve and other major central banks are set to raise rates to combat inflationary pressures, while fears over a slowdown in global growth are spreading.

Some nascent signs that inflation could be slowing in the…