TOKYO -- As countries grapple with a resurgence of inflation after decades of moderation, "both fiscal and monetary policy are near the limits of what they can do" to stimulate the economy, Agustin Carstens, general manager of the Bank for International Settlements, told Nikkei.
While central banks have been criticized for being behind the curve on responding to the global surge in prices, Carstens said that many different factors besides monetary stimulus have contributed to inflation, including supply chain and commodity market disruptions. "Inflation is not 100% determined by central banks," he said.
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