Article published: Feb 6, 2020
IB Economics syllabus: Macroeconomics, International economics (monetary policy, exchange rates)
The first Central Bank to increase interest rates was the Czech National Bank – and the move surprised the markets as no one was expecting a rate hike. As a result, the koruna (the Czech currency) appreciated by almost 1% per euro. Thus, the Checz Republic has been the only nation in the world this year to have increased their interest rates as per the picture below:
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