The central bank began its tightening cycle in December 2021, raising rates from near zero to levels last seen during the financial crisis of 2008.
The central bank has said Ben Bernanke, the former U.S. Federal Reserve chair, will lead a review into the bank’s forecasting processes.
But this week, some news landed in the central bank’s favor.
Better still for the central bank, measures of domestic inflationary pressures also slowed.
As inflation rates drop across much of the world and economies are weakening, in part because of the aggressive policy tightening by central banks, policymakers are trying to carefully calibrate the right level of interest rates.
Persons:
Ben Bernanke
Organizations:
U.S . Federal