Central banks unfinished in their battle with inflation

Rate hikes were announced by many central banks this week, including the SNB and Norges Bank which raised rates by 50bp and 25bp respectively. However, inflation forecasts issued by the central banks show that they will be taking more action next year to return inflation to target in the medium term. Additionally, Sweden’s inflation rate ticked up in November applying pressure for the Riksbank to tighten monetary policy next year.