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| Janet Yellen, Federal Reserve |
How and when the world’s central banks extricate themselves from the extraordinary monetary easing that has taken place over the last decade has become the debate of the summer.
The backdrop to this is the presumption that the Fed will hike rates again in September and that Mario Draghi at the ECB is turning his attention to how and when he might do the same.
The complacency of this position was, however, thrown into doubt in mid-July after inflation missed its fourth consecutive target in the US.
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