Monetary and fiscal policy struggle with the pandemic's fallout
Inflation in the U.K. is expected to surge to 13% in the fourth quarter
Inflation-targeting policies have been successful until recently
Many central bank digital currencies are likely to be issued in the "medium" term, BIS reports
More rate increases could be in the pipeline based on the latest economic outlook
Many questions remain about how a CBDC would affect banks and wealth managers
In contrast, the ECB doesn't plan to raise rates until 2023 despite record inflation
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