WASHINGTON/FRANKFURT ¨C Central bankers are gingerly trying to take away the punch bowl without interrupting the party.
Led by interest rate increases by the Federal Reserve and the People¡¯s Bank of China, central banks around the world shifted toward a tighter monetary stance last week.
Yet the moves were either so well-telegraphed, or so tiny, and the language about future action so hedged, that there was barely a ripple in financial markets.
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.