As Inflation Soars, Central Banks Scramble to Lift Rates – The Wall Street Journal

FRANKFURT—Europe’s central banks signaled growing concern about soaring inflation and a determination to quench it by raising interest rates, a policy shift that creates risks for investors and the world economy.

The hawkish moves in Europe reflect a growing appreciation among policy makers that inflation won’t come down as quickly as they had hoped. It echoes a similar shift in the U.S., where Federal Reserve Chairman Jerome Powell signaled last week that the U.S. central bank would begin steadily raising interest rates in mid-March.

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