Vincent Boland: It’s been a while but it seems inflation is back with a bang
After all the toiling of the central banks to pump up prices a little, things are revving up rather more dramatically than they’d expected – with worrying consequences for all
For much of the past decade, the world’s three important central banks were engaged in a strange and thankless task – trying to get inflation to rise. After the 2008-2010 financial crisis, the US Federal Reserve, the European Central Bank and the Bank of Japan cut interest rates more or less to zero, threw money at the banks, and dived into the bond markets to provide extra liquidity, in an effort to revive economic activity...
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