Frankfurt/London/Washington | Central bankers stand accused of reacting too slowly to signs that the inflation crisis is dissipating, less than two years after they were criticised for being late in responding to the most brutal surge in prices for a generation.

Some policymakers are already warning that by waiting too long to cut borrowing costs, central banks could harm weakening economies – the eurozone has stagnated all year – or hobble heavily indebted governments such as Italy.

Financial Times