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Major central banks are on the brink of peak rates — but the inflation battle might not be over
The central banks of some of the world’s biggest economies are now widely considered to have reached, or be at the brink of reaching, the highest level they will take interest rates. The European Central Bank last week signaled that its Governing Council feels rates may have got there. Following a long deliberation over its updated forecasts for inflation and economic growth and what they should mean for monetary policy, the ECB hiked its key rate to a record high of 4%. While its accompanying statement by no means ruled out further hikes completely, it said rates were at levels that if “maintained for a ... (full story)
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