Forceful central bank action to stem inflation has the global economy poised for a smooth landing, although some pressure points could still throw it off course. To lay solid foundations for the future, central banks must finish guiding the economy back to price stability and governments must act on public finances and overdue reforms. BIS analysis describes lessons learned for central banks since the turn of this century and the implications for monetary policy frameworks in the future.

This information was gathered from the Bank for International Settlements