FRANKFURT—The European Central Bank confirmed plans to rapidly roll back the easy-money policies adopted during the Covid-19 pandemic as the war in Ukraine fuels an unprecedented surge in inflation.
Major central banks including the Federal Reserve are laying plans for the most aggressive cycle of interest-rate increases in decades, with sweeping implications for global asset prices. Policy makers are eager to remove pandemic-era stimulus measures to regain control over inflation, which has surged to multidecade highs around the world.
