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01/08/2022 · By Tobias Adrian, Christopher Erceg and Fabio Natalucci. عربي, 中文, Español, Français, 日本語, Português, Русский. Upside risks to the inflation outlook remain large, and more aggressive tightening may be needed if these risks materialize. Central banks in major economies expected as recently as a few months ago that they could tighten monetary policy very gradually.

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