Monetary policy is far from uniform around the world.
In the developed western economies, the US and the UK are slowly shifting from very loose policy to gradually tighter policy.
The European Central Bank and the Bank of Japan look to ease further. Even the People’s Bank of China has an easing bias.
Meanwhile, central bankers in Russia, Ukraine, and much of Latin America are all about tighter monetary policy as they fight inflation and deteriorating local currencies.
To help everyone keep track, Morgan Stanley offers this guide to the monetary policy stance and bias of every major economy’s central bank around the world.
Deutsche Bank illustrates the theme on a map.