Central banks should stay the course to conquer inflation, says BIS
The work is far from over despite the most intensive monetary policy tightening in recent memory
The Bank for International Settlements (BIS) says world central banks should stay the course to conquer inflation, even if the last mile to price stability proves the most challenging, because failing to do so would bring the risk of financial instability.
In its annual economic report released on Sunday the BIS, a global financial organisation owned by member central banks whose primary goal is to foster international monetary and financial co-operation while serving as a bank for central banks, said that while inflation has started to subside from multi-decade highs almost everywhere, the work of central banks is far from done despite the most intensive monetary policy tightening in recent memory...
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