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  • Last Update : 07:07 pm

Soon time to watch for rising global inflation

  • Published at 11:07 pm February 11th, 2017
Soon time to watch for rising global inflation
Nearly a decade since the start of the financial crisis and an avalanche of emergency monetary stimulus that ensued, inflation is only just now close to the 2% target many of the world’s biggest central banks still keep. But there have been stirring signals on inflation elsewhere in the world, suggesting a turning point may be closer. The Reserve Bank of India just dropped its bias to ease policy, citing global inflation pressures as one reason for a sudden volte-face. Mexico’s central bank, grappling with a falling peso, hiked rates on Thursday to a near-eight year high. Key releases on inflation for the United States, Britain and China are due next week, forecast at 2.4, 1.9 and 2.4%, respectively, according to Reuters polls. The worry is with growth holding up and commodity prices giving inflation a nudge up now, the last thing needed with most major central bank rates still near zero is more fuel poured onto to an already-raging fire. An expected announcement from the Trump administration on plans for sweeping tax cuts is likely only weeks away, and has again boosted already-lofty stock prices.
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