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Their rhetoric is starting to lack credibility as powerful economic headwinds emerge

Elevated interest rates spur demand, despite some calls to move away from the greenback

Emerging markets can teach us all a lesson about the importance of not relying solely on discretion

The Bank of Canada and European Central Bank’s thinking diverges on economic shocks

Conflicts, climate change and trade disputes may require ‘forceful’ rate rises in future, says Basel-based body

Plus, Zelenskyy criticised for ‘rose-tinted’ speeches, Sunak defends Johnson at the Covid inquiry and reference to fossil fuel phaseout dropped from COP28 draft

Economic stabilisation may, paradoxically, raise the chances of financial market instability

Umbrella body for central banks highlights risk of flare-up in services prices and wage growth

Whether they changed their minds or stuck firm, markets did not believe them