Global monetary policy looks set to stay super easy well into 2022 even as central banks edge closer to dialing back their emergency support in the face of mounting inflation pressures.
In the last week, the U.S. Federal Reserve signaled it will start paring its massive bond-buying as soon as November and the Bank of England hinted for the first time that it may raise interest rates this year. Norway became the first developed economy to hike and borrowing costs were also increased in Brazil, Paraguay, Hungary and Pakistan.
Behind the pivot is the
sense that inflation is proving more stubborn, with the Organization for Economic Cooperation and Development raising forecasts to show consumer prices rising 3.7% in the Group of 20 in 2021 and 3.9% next year.
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September 26, 2021 at 04:00AM
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Tapering Doesn't Mean Tightening for Central Bank Money Printers - Bloomberg
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