Notwithstanding the broad warnings about the economic risks posed by recent stress in the banking sector, global monetary policymakers are keeping their focus squarely on inflation and the need to continue raising interest rates to tame it.
The call for caution has come from top officials at the International Monetary Fund (IMF), who are worried about a global crack-up, from bond markets flashing recession signals, and from policymakers themselves who say they are monitoring the details of banking data and the mood of industry executives for signs of trouble.
