Top central bankers assert need for higher interest rates to tackle persistent inflation

By DAVID McHUGH and CHRISTOPHER RUGABER
AP Business Writers

FRANKFURT, Germany (AP) — Several of the world’s top central bankers got together, and their message was clear: interest rates are expected to go even higher to combat inflation. U.S. Federal Reserve Chair Jerome Powell, European Central Bank President Christine Lagarde and Bank of England Gov. Andrew Bailey underlined their determination on Thursday to bring inflation under control come what may. They pointed to strong labor markets that are helping push up prices. The message came during a panel at the ECB’s annual policy conference in Sintra, Portugal. The outlier is the Bank of Japan Gov. Kazuo Ueda, who says inflation didn’t justify rate hikes yet.