The left chart shows the number of policy rate hikes or cuts by central banks since 2008. The bars above zero are the number of rate increases by the central banks in developed markets and emerging markets. The bars below zero show the number of rate cuts. The right chart shows current key interest rate levels for selected economies, as well as the level at the start of the year and the expected peak in their cycle. We can see and compare which central banks are looking to tighten or loosen policy and by how much.