Central banks are likely to overshoot in their inflation battles

Central banks are likely to overshoot in their inflation battles
The Reserve Bank of NZ’s inflation forecasts have been drastically wrong for more than a year. (Image: iStock)
Jenny Ruth
Financial markets types globally are debating whether central banks are going to be able to engineer a “soft landing” for their economies or whether we could all be headed into a deep recession and every graduation in between.On past form, the odds favour a recession, so then the debate shifts to how mild or severe it’s likely to be.But we know that after a decade and more of inflation constantly surprising us by failing to appear, central banks and other forecasters alike were surprised at how strong and persistent post-covid...

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