Below is the situation in the US:''Once inflation gets started, stopping it is hard—even when the central bank has the necessary tools.
A central bank that already used its best options will have an even harder time. And that’s where the Federal Reserve is. The Fed’s own policies helped spark this inflation. Extinguishing it was never going to be quick or easy. Yet price inflation isn’t entirely the Fed’s fault. You could argue it stems from the giant COVID stimulus spending''
It's much the same in Australia.
We in Oz, won't see rates being lowered for quite some time, my ''guess'' is early 2024.
The RBA, like most reserve banks, will take the least embarrassing path. They will increase rates then hold them at a high level for too long as they have held them at too low a level for too long.
