FRANKFURT/WASHINGTON/TOKYO –
Beneath strain from politicians, central bankers are combating again.
Nonetheless, their efforts are exposing a fragile trade-off: Defending independence could protect inflation credibility, however at the price of showing political themselves.
Mainstream centrist politicians the world over are going through an onslaught from much less typical, usually populist rivals who’ve their very own concepts about what central banks ought to do, and who ought to run them.
