Sberbank experts paid attention to the hawkish rhetoric of the central banks of developed countries - knowledge that an increase in the severity of statements is associated with an increase in stagflationary risks. Hawk positions grew most strongly in the US Federal Reserve Bank and the Bank of England, the report said. The experts also include the Bank of Norway, the central banks of Australia and New Zealand, and from the beginning of 2026, the ECB among the central banks of countries with the strictest policies. At the same time, central banks of developing countries such as India, Brazil and Mexico remain neutral.

Sberbank experts paid attention to the hawkish rhetoric of the central banks of developed countries - knowledge that an increase in the severity of statements is associated with an increase in stagflationary risks. Hawk positions grew most strongly in the US Federal Reserve Bank and the Bank of England, the report said. The experts also include the Bank of Norway, the central banks of Australia and New Zealand, and from the beginning of 2026, the ECB among the central banks of countries with the strictest policies. At the same time, central banks of developing countries such as India, Brazil and Mexico remain neutral.