The OECD says energy price shocks and stronger-than-expected demand are reshaping the global inflation outlook, and it now forecasts one more Fed rate hike this year plus small further hikes from the ECB, Australia and South Korea, with the Bank of Japan continuing to tighten.
The OECD sees inflation pressure as more persistent than expected, driven by energy costs and stronger demand. That points to more central banks raising rates further rather than pausing, including the Fed, ECB, BOJ, and Australia and South Korea's central banks.