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monetary policy of central banks worldwide. The Federal Reserve has occasionally signaled that it may become less vigorous in its pursuit of monetary policy tightening. The US central bank is thus expected
recovery coupled with high oil prices since early this year may put more pressure on inflation. Against this backdrop, central banks worldwide are highly likely to adopt a more tightening stance, especially
’ confidence and derail several countries’ economic recoveries over the medium term. Regarding monetary policy direction of central banks worldwide, the US Federal Reserve may gradually raise its policy rate