Analysis: As Fed taper looms, global central banks eye their own exits from stimulus

Haunted by memories of past U.S. interest rate hikes, the world’s central banks are laying the groundwork for a transition to life with less global stimulus, with many countries already signalling moves to the exit.

While the Federal Reserve is publicly committed to keeping interest rates near zero — and no hikes are priced in until late next year at the earliest — official comments about inflationary pressures could become a chorus in months ahead, making tapering a more concrete…