World central banks signal victory over inflation is in sight

(Image: Getty)

Sat, 16 Dec 2023

By Tom FairlessThe European Central Bank and the Bank of England held interest rates steady as rich countries’ central banks begin to reposition themselves for a world in which inflation is under control. The shift marks a turning point for a global economy that for months had been labouring under high interest rates, high inflation and – outside the US – low growth amid heightened geopolitical uncertainties as the wars in Ukraine and Gaza rage on. Faster-than-expected declines in inflation over recent months and sig...

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