Major central banks resumed their quest to ramp up interest rates in February after a tepid start to the year with price pressures proving more sticky than markets and many policy makers had hoped for.
The February move follows January that saw six out of 18 central banks delivering a total of 225 bps of hikes in January while another six met but decided to keep rates unchanged.
"This shock came for everyone together, but it might disappear at different rates," said Gabriel Sterne at Oxford Economics. "The disinflation trend is looking surprising good in Asia now for example where services inflation has already turned a corner."Reporting by Karin Strohecker and Vincent Flasseur, additional reporting by Marc Jones Editing by Nick Zieminski
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