Perspectives
Over the past couple of years, the global economy has experienced one of the most unusual periods in recorded history. While major central banks have now responded with the largest and fastest increase in policy interest rates seen in decades, monetary policy works in long and variable lags, and, as Ric Deverell, Macquarie's Chief Economist and Head of Net Zero, explains, the full impact of monetary tightening on the global economy is still yet to be felt.
