Commentary
International organizations such as International Monetary Fund (IMF), World Bank (WB), and Organization for Economic Co-operation and Development (OCED) have revised upward their economic forecasts in turn. Were their forecast updates correct, this would mean the global tightening is not strong enough, and probably not enough to bring down inflation to the 2 percent target. Data show this is indeed the case. Most countries, including United States, nations within the eurozone, the United Kingdom, and Australia are having their core inflation rates stayed flat (and high) over the past three to six quarters.
