Oil Nearing $100 Is Red Flag for Central Banks’ Inflation Fight
- Crude approaching $100 is new headache for policymakers
- Volatility coincides with ‘higher for longer’ rates outlook
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Just as global monetary policy switches toward high-altitude cruise control, another bout of turbulence is bearing down on the world economy with surging oil prices.
The approach of crude toward $100 a barrel is presenting central bankers with a reminder that the era of volatility heralded by the pandemic and war in Ukraine isn’t going away.