• Central Banks Under Pressure as Inflation Levels Rise ...

  • Jul 19 2021
  • Durée: 5 min
  • Podcast
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Central Banks Under Pressure as Inflation Levels Rise ...

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  • Central Bankers  came under increased pressure this week as inflation levels continue to  rise. Jerome Powell, Chair of the Federal Reserve admits to being  "uncomfortable" about the level of price increases. 

    “This  is a shock going through the system associated with reopening of the  economy, and it has driven inflation well above 2%. We’re not  comfortable with that,” Mr. Powell told the Senate Banking Committee on  Thursday. CPI Inflation hit 5.4% in June.

    In the U.K. inflation CPI basis increased to  2.5% in June, the Bank expects levels to rise to 3% before returning  towards the 2% target later this year. Not all members of the MPC are in  agreement.

    Dave Ramsden  thinks inflation could hit 4% before falling back to target. He thinks  conditions are such, a tightening in policy may be required somewhat  sooner than he had previously expected.

    Michael  Saunders, in his "Inflation Outlook Speech" this week, explained, "In  my view, if  inflation indicators remain in line with recent trends, it  may become appropriate fairly soon, to withdraw some of the current  monetary stimulus.


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