September 13, 2018 / 5:28 AM / in 8 months

Amid central bank tightening, a brief history of benchmark rates

U.S. dollars and other world currencies lie in a charity receptacle at Pearson international airport in Toronto, Ontario, Canada June 13, 2018. REUTERS/Chris Helgren

NEW YORK (Reuters) - Major central banks are turning to tighter monetary policy and the effects are being felt throughout global financial markets.

The following graphic shows a select group of countries where the benchmark rate has gone above 50 percent. Data begins in 1985.

In Brazil, rates in 1990 once hit near 800,000 percent while in Russia there was an extended period of time in the 1990s where rates held above 150 percent. The current high rates in Argentina and Turkey as they deal with runs on their currencies seem tame in comparison.

Central bank interest rates:

Reporting by Rodrigo Campos; Editing by Daniel Bases

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