Central Banks
From Zurich to London to Washington, the Great Inflation Scare Is Fading
- Swiss cut rates after US easing signals, and BOE vote shifted
- ‘We have turned a corner,’ says Blackrock’s Hildebrand
A customer waits at a meat counter at a Woolworths grocery store in Sydney, Australia.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
From Zurich to London to Washington, the great inflation scare that gripped the world economy after the pandemic is suddenly no longer keeping central bankers up at night.
Their confidence that raging consumer prices have been tamed is such that the Federal Reserve just defied recent data to keep projecting three interest-rate cuts this year — and then the Swiss on Thursday went ahead and delivered one already.