The coming 12 months are shaping up as the year of the interest-rate cut, with the Federal Reserve poised to lead the charge for richer countries.

Traders boosted bets on how aggressively the Fed will lower borrowing costs this year after a report showed prices paid to producers continued to fall in December. Even so, the path to taming inflation will be bumpy, as a measure of consumer prices rose by the most in three months.

Similar metrics in Norway and Chile eased in December, while Argentina ended the year with inflation above 200 percent. While inflation is mostly retreating around the world, soaring shipping costs and a jump in oil prices are stoking worries about a revival of cost pressures.

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Molly Smith

Molly joined Law.com International as a reporter in July 2024 after a couple of years working in business development and following the completion of a degree in journalism at Goldsmiths, University of London. [email protected]