Inflation: it’s still bad news

e battle to bring down in ation is not going to get easier any time soon and, if anything, will be tougher than the last year of constant rate hikes, the Bank of International Settlements (BIS) has warned.

BIS acts as the central bank for central banks and said interest rates may need to stay higher for longer than the public and investors had hoped for. “Despite the most intensive monetary policy tightening in recent memory, the last leg of the journey to restore price stability will be the hardest,” the Basel-based institution said in its just published annual economic report.

“Interest rates may need to stay higher for longer than the public and investors expect,” it said.