Proceedings of the Federal Reserve Conference: the Middle East conflict pushed inflation, and most central banks hinted that future interest rates would increase

On 9 July, the minutes of the June meeting of the Federal Reserve indicated that, since the outbreak of the conflict in the Middle East, global overall inflation had risen significantly, with retail energy and producer prices rising sharply in Europe and much of Asia. Some central banks, including the European Central Bank, increased their policy interest rates in response to rising inflation. Overall, most foreign central banks have stressed that high inflation may trigger a second-round transmission effect and therefore need to be mitigated, and that, despite weak economic output growth prospects, these central banks have suggested future measures to raise interest rates or slow the pace of easing。