The US was not alone in hiking interest rates. The 6 other countries that hiked interest rates by 0.25% in line with the US were United Arab Emirates, Bahrain, Kuwait, Saudi Arabia, Hong Kong and Macau – all of which peg their interest rates in line with the one in the US.
Meanwhile Russia, Brazil, Mongolia, Tajikistan, Kenya, Serbia and Peru all lowered their interest rate.
The Cooperation Council for the Arab States of the Gulf (originally known as the Gulf Cooperation Council) countries (most did, not all) hiked interest rates by 0.25%. The UAE dirham for instance is pegged to the US dollar and follows Federal Reserve monetary policy. The UAE uses certificates of deposit – which was hiked to 2% as a monetary policy instrument through which rates are set in the absence of an independent monetary policy.
The Hong Kong Monetary Authority raised its base rate by 0.25% to 2%. They too track the US Federal Reserve as its currency is pegged to the US dollar.
The Russian central bank cut its main interest rate by 0.25% to prop up a stalling economic recovery through cheaper lending, and lower inflation possibly means it can reduce rates even more going forward.
Brazil cut its interest rate to a record low of 6.50% as inflation in February was the lowest since 1999.
Here are all recent interest rate changes between March 10, 2018 and March 23, 2018,
Mongolia Change: -1% (New: 10% Old: 11%)
Tajikistan Change: -0.75% (New: 14% Old: 14.75%)
Kenya Change: -0.5% (New: 9.5% Old: 10%)
Brazil Change: -0.25% (New: 6.5% Old: 6.75%)
Peru Change: -0.25% (New: 2.75% Old: 3%)
Russia Change: -0.25% (New: 7.25% Old: 7.5%)
Serbia Change: -0.25% (New: 3.25% Old: 3.5%)
United Arab Emirates Change: 0.25% (New: 2% Old: 1.75%)
Bahrain Change: 0.25% (New: 2% Old: 1.75%)
Hong Kong Change: 0.25% (New: 2% Old: 1.75%)
Kuwait Change: 0.25% (New: 3% Old: 2.75%)
Macau Change: 0.25% (New: 2% Old: 1.75%)
Saudi Arabia Change: 0.25% (New: 2.25% Old: 2%)
United States Change: 0.25% (New: 1.75% Old: 1.5%)
And here are interest rates (in %) around the world as of March 23, 2018 (in increasing order),
Switzerland -0.75%
Denmark -0.65%
Sweden -0.5%
Japan -0.1%
Austria 0%
Belgium 0%
Bulgaria 0%
Cyprus 0%
Estonia 0%
Finland 0%
France 0%
Germany 0%
Greece 0%
Ireland 0%
Italy 0%
Latvia 0%
Lithuania 0%
Luxembourg 0%
Malta 0%
Netherlands 0%
Portugal 0%
Slovakia 0%
Slovenia 0%
Spain 0%
Israel 0.1%
New Caledonia 0.25%
Fiji 0.5%
Norway 0.5%
United Kingdom 0.5%
Singapore 0.59%
Czech Republic 0.75%
Hungary 0.9%
Comoros 1.16%
Panama 1.18%
Albania 1.25%
Canada 1.25%
Taiwan 1.38%
Cambodia 1.49%
Australia 1.5%
Poland 1.5%
South Korea 1.5%
Thailand 1.5%
New Zealand 1.75%
United States 1.75%
United Arab Emirates 2%
Bahrain 2%
Hong Kong 2%
Macau 2%
Oman 2.15%
Cuba 2.25%
Morocco 2.25%
Romania 2.25%
Saudi Arabia 2.25%
Belize 2.5%
Chile 2.5%
Croatia 2.5%
Guatemala 2.75%
Jamaica 2.75%
Peru 2.75%
Cameroon 2.95%
Central African Republic 2.95%
Chad 2.95%
Equatorial Guinea 2.95%
Gabon 2.95%
Republic of the Congo 2.95%
Bolivia 2.96%
Libya 3%
Philippines 3%
Kuwait 3%
Macedonia 3.25%
Malaysia 3.25%
Serbia 3.25%
Mauritius 3.5%
Barbados 3.61%
Algeria 3.75%
Bosnia and Herzegovina 3.88%
Bahamas 4%
Iraq 4%
Iceland 4.25%
Indonesia 4.25%
Laos 4.25%
El Salvador 4.31%
China 4.35%
Benin 4.5%
Burkina Faso 4.5%
Colombia 4.5%
Guinea Bissau 4.5%
Ivory Coast 4.5%
Mali 4.5%
Niger 4.5%
Senegal 4.5%
Togo 4.5%
Trinidad and Tobago 4.75%
Botswana 5%
Costa Rica 5%
Guyana 5%
Jordan 5%
Kyrgyzstan 5%
Qatar 5%
Dominican Republic 5.25%
Paraguay 5.25%
Brunei 5.5%
Cape Verde 5.5%
Honduras 5.5%
Rwanda 5.5%
Tunisia 5.75%
Armenia 6%
Bhutan 6%
India 6%
Pakistan 6%
Papua New Guinea 6.25%
Vietnam 6.25%
Lesotho 6.27%
Brazil 6.5%
Moldova 6.5%
Bangladesh 6.75%
Namibia 6.75%
South Africa 6.75%
Ethiopia 7%
Maldives 7%
Nepal 7%
Swaziland 7%
Georgia 7.25%
Russia 7.25%
Sri Lanka 7.25%
Ecuador 7.41%
Mexico 7.5%
Turkey 8%
Burundi 8.19%
Mauritania 9%
Sao Tome and Principe 9%
Tanzania 9%
Uganda 9%
Uruguay 9.25%
Zimbabwe 9.39%
Kenya 9.5%
Kazakhstan 9.5%
Madagascar 9.5%
Zambia 9.75%
Mongolia 10%
Lebanon 10%
Myanmar 10%
Belarus 10.5%
Djibouti 11.3%
Seychelles 11.98%
Guinea 12.5%
Azerbaijan 13%
Sierra Leone 13%
Liberia 13.3%
Sudan 13.5%
Tajikistan 14%
Nigeria 14%
Uzbekistan 14%
Afghanistan 15%
Gambia 15%
Yemen 15%
Malawi 16%
Ukraine 17%
Egypt 17.75%
Angola 18%
Iran 18%
Mozambique 18%
Congo 20%
Ghana 20%
Haiti 20%
Venezuela 21.19%
Suriname 25%
Argentina 27.25%