In an interview, Central Bank Governor Adam Glapinski reiterated his view that “it was still too risky to raise rates”. At present, Poland’s inflation rate is 5.4%, the highest in the last ten years. On the other hand, Turkey is an example where President Recep Tayyip Erdogan has a dovish approach but Central Bank of the Republic of Turkey (CRBT) has a hawkish one. When we talk about Russia, its current inflation rate is 6.74%, and in response to this, the central bank has increased the interest rate slightly above the inflation rate at 6.75%. Similarly, the Brazilian Central Bank (BCB) responded to control an inflation rate of 9.7% by increasing the interest rate from 4.25% to 5.25%.

Source: The Express Tribune November 02, 2021 09:19 UTC