We have argued that most of the inflation battle is already won and fears that “the last mile will be the hardest” are overdone. But during our central bank online Drop-In session last week, clients asked whether inflation in the major advanced economies might return to target only to rise again by the summer. In this Update, we explain what might cause this to happen but why we think this risk is also quite limited.
We'll be discussing geopolitics, shipping disruptions and supply chain risks in a 20-minute online briefing at 3pm GMT today. (Register here.)
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