The Federal Reserve is seen in Washington, DC on June 14, 2017. AFP / ANDREW CABALLERO-REYNOLDS
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Expectations are firming for major central banks to turn further away from ultraeasy monetary policy despite scant evidence of a pickup in inflation, Reuters polls of more than 500 economists showed Thursday. One striking conclusion from surveys covering more than 40 economies is the rift opening between what most top central banks target – inflation – and policy bias, prompting many economists to warn about the rising danger of policy error.Indeed, a majority of almost 150 economists who answered an additional question said it is more likely that the global economy will do better than worse over the coming year.Reuters polls reveal no change to growth forecasts or at best a slight upgrade for 26 of the 45 economies compared with previous months. Global growth forecasts, collected separately, have been rising gradually since late last year, with the latest pegging 2017 at 3.5 percent followed by 3.6 percent in 2018 .But inflation expectations are slightly weaker compared with the last poll, with downgrades to more than half of the economies polled.
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