Comment

Tough pill to swallow as ECB and Fed look to keep rates high

Interest rates are set to remain ‘higher for longer’ as central banks keep their efforts on tackling price rises

The medicine to fight inflation has been harsh. There’s no spoonful of sugar to make it go down easier. (Picture: Getty)

For much of 2021, the word ‘transitory’ was unavoidable. Central bankers were tripping over themselves to declare that the spike in inflation would pass as ...