IF the world’s big central banks are convinced the economic emergency is over and policy should start to return to pre-pandemic settings, the European Central Bank (ECB) (pic) is likely to beat the Federal Reserve (Fed) to it.
Facing the highest inflation rates in decades, caused mainly by the distortions and bottlenecks related to rapidly reopening economies after serial Covid-19 lockdowns, central banks fear those rates will be slower to subside than first thought.
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