Can central banks curb inflation as energy costs rise?

"The impact will be felt hardest in emerging markets and developing nations. Central banks face a tough choice: fight rising prices or support a weakening economy."

Central banks in the United States, Europe, and the United Kingdom are holding interest rates and borrowing costs steady despite rising energy bills, fuel, and food prices. Higher costs are squeezing businesses and households worldwide. The International Monetary Fund warns that global growth is slowing. Uncertainty remains about how long the energy shock linked to the US-Israel war on Iran will last. The effects are expected to hit emerging markets and developing nations hardest. Central banks must balance fighting inflation against supporting economies that are weakening.

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