LONDON/FRANKFURT šC Top central banks have said they stand ready to tackle any surge in inflation with tighter policy as the latest escalation in the U.S.-Israeli war on Iran puts the Middle East¡¯s vital energy infrastructure in the line of fire, pushing fuel prices higher.
In a rare coincidence of the monetary policy diary, central banks of the United States, Japan, Britain, Canada and the euro zone ¡ª effectively the Group of Seven (G7) nations ¡ª convened this week, as have counterparts from several emerging economies.
After facing criticism they acted too late to tame a post-pandemic jump in inflation exacerbated by the Russian invasion of Ukraine in 2022, policymakers are determined to rein ?in prices without ?derailing still-patchy economic growth ¡ª and above all to avoid a ¡°stagflation¡± mix of recession and price surges.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.