Monthly Overview

2 August 2021

Although central banks consider recent inflationary pressures to be only temporary, actual figures will overshoot their official targets and the Fed's in particular by far. Monetary policy will remain accommodating. However, central banks of the major developed countries are now grappling with a reshaping of their monetary policies, which are still largely expansionary. Tax stimulus and central banks stance should continue to support the economic recovery well beyond 2021.

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