Policy has not been tight long enough – governors

Hot labour markets boost wages and core inflation, making inflation persistent

Panel at the ECB's Sintra forum
Panel at the ECB Sintra forum. L to R: Kazuo Ueda, Jerome Powell, Christine Lagarde and Andrew Bailey
Sérgio Garcia/Your Image for ECB

Monetary policy has not been restrictive long enough to bring inflation to central banks’ targets, several top central bankers said today (June 28).

US Federal Reserve chair Jerome Powell, European Central Bank president Christine Lagarde and Bank of England governor Andrew Bailey agreed on this point at the ECB’s forum in Sintra, Portugal.

Related Fed holds policy rate steady

Powell says conditions for lower inflation are coming into place, and July will be a “live meeting”

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