Higher inflation levels won't be transitory, say senior bankers

Higher inflation is expected over the next few years as the world emerges from the Covid-19 pandemic, according to senior bankers at a forum in Singapore yesterday.

UBS Group chairman Axel Weber told the event that while growth and economic recovery should continue, governments and central banks have important roles to play in ensuring that prices are stable because rising inflation is no longer temporary and will likely reset at uncomfortably higher levels over the next "one to three years".