The two most important central banks in the world are taking different courses.
(Photo: AP)
Frankfurt Like the ECB, the US Federal Reserve was way off the mark with its inflation forecasts last year. In March she was still assuming that the inflation rate in 2021 would be 2.4 percent on average – in December she feared an annual average of 5.3 percent. In the last month of last year, consumer prices rose by 7.0 percent.
The misjudgment has led to a rethink among decision-makers in the USA – which could also have massive consequences for Europe. Because market interest rates in the USA could rise significantly.
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