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High inflation and mounting growth headwinds call for quick and decisive action by central banks, says Agustín Carstens, presenting the BIS's Annual Economic Report.

Looking "under the hood" of inflation provides fresh insights into the inflation process, represented by two very different regimes and self-reinforcing transitions from low- to high-ones, says Claudio Borio, presenting the BIS Annual Economic Report.

Agustín Carstens outlines the challenges for central banks with the return of inflation. Read more in our Annual Economic Report.

Jens Weidmann discussed the succession of crises faced by central banks over the past years. These suggest that the future inflation environment will be different from the one we know. Uncertainty about important macroeconomic variables and about inflation dynamics will remain high.

Chair: Agustín Carstens, General Manager, Bank for International Settlements
Panellists: Haruhiko Kuroda, Governor, Bank of Japan; Pablo Hernández de Cos, Governor, Bank of Spain; Lesetja Kganyago, Governor, South African Reserve Bank; Thomas Jordan, Chairman, Swiss National Bank

Claudio Borio looks "under the hood" of inflation to identify how its engine works. Read more in our Annual Economic Report.

Keynote speech by Hyun Song Shin, Economic Adviser and Head of Research of the BIS, on commodity market disruptions, growth and inflation.


The recent surge in inflation has underscored the need to "look under the hood" to better understand how relative price changes can morph into broader-based inflation. Claudio Borio summarises the key insights from this fresh perspective.

High inflation and mounting growth headwinds raise the prospects of global stagflation and call for quick and decisive action by central banks, says Agustín Carstens, presenting the BIS's Annual Economic Report.