Central bank tightening
We start the week with a chart that shows how central banks globally are reacting to soaring inflation.
It shows the change in the policy rate with the change in the inflation rate since the beginning of the year. As you can see, most central banks have started raising key lending rates as consumer prices climbed. The European Central Bank, Bank of Japan and Swiss National Bank are the notable exceptions so far – though the ECB may start some timid rate hikes this summer.