Central banks launch most widespread rate rises for over two decades

The era of cheap money is drawing to a close. As inflation reaches a multi-decade high, the world's central banks have embarked on the most coordinated policy tightening cycle since 2000. Although rates are currently still low by historical standards, with economists warning that this move is just the beginning, Valentina Romei discusses how this will affect various countries worldwide, including the US, UK and Japan.