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A simple model points to a risk that US inflation takes longer to return to the 2% target than expected by the Fed because inflation dynamics have not returned to pre-COVID patterns, where the issue largely rests with services prices. This risk should not be overstated as dynamics could improve further, but is consistent with interest rates staying high for ...
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Bank of Japan board members turned overwhelmingly hawkish at their April policy meeting, with many calling for raising interest rates steadily to forestall risks of an inflation overshoot, a summary of opinions at the meeting showed. Some members saw the chance of a faster-than-expected pace of interest rate hikes on heightening prospects of inflation ...