Euro area inflation has been rising strongly in the wake of the COVID-19 pandemic, giving rise to concerns that there … could be second-round effects, with higher inflation leading to higher inflation expectations, which in turn lead to higher … inflation. This could result in more persistent rises in inflation. …

After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by … global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise … monetary policy tightening, inflation upside risks are large. How can central banks restore control – and with it their own …