Central bank scanner: Central banks’ waiting game

Most major central banks are shifting from reacting to inflationary shocks toward assessing its durability; the result is a preference for holding rates steady while messaging hawkish sentiments.

Global forecast Global growth is expected to cool to 2.9 percent in 2026 before improving to 3.2 percent in 2027 from 3.4 percent in 2025, on a purchasing power parity basis. The forecast is unchanged while the uncertainty surrounding the Strait of Hormuz is ongoing. Global inflation is expected to reach 4.4 percent in 2026 and 3.9 percent in 2027, up from 3.8 percent in 2025. Some inflationary pressures were moved from this year to next as price pressures from the closure of the Strait of ...

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Authors: Benjamin Shoesmith

Published Date: 24 August 2026