Davos live updates: Global leaders discuss the impact of high interest rates and the new normal

Political and business leaders gather in Switzerland for the 54th Annual Meeting of the World Economic Forum. The event in Davos features notable speakers such as the Chinese Premier, the President of the European Commission, the Ukrainian President, and a U.N. national security advisor. Discussions cover various topics, including the impact of higher interest rates. The European Central Bank’s Centeno highlights positive inflation progress in the euro zone, emphasizing the importance of maintaining credibility. A panel titled “The High Rate Reality” explores the possibility of high interest rates becoming the new normal and their implications for markets. Euro zone headline inflation reached 2.9% in December, surpassing the ECB’s target of 2%.