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Central banks in danger of misreading markets

Industry observers point to accelerating inflation and rising bond yields which signal that the Fed, ECB, BOE and several others are behind the curve

Only 22 per cent of 63 economists polled by The Wall Street Journal expect the Federal Reserve to raise rates at its policy meeting in late September.


ACCELERATING inflation and rising bond yields indicate that central bankers are misreading markets.

With the exception of Canada, which for the first time in seven years raised rates by 0.25 per cent to 0.75 per cent, other central banks are postponing increases. Bond yields...

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