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This is CBS Eye on the World. Here's John Batchler.

The announcement from the Bank of England, a half-point rise in interest rates,

that watch charge the best customers. From Europe, the European Central Bank,

Christine Lagarde, a half-point hike in interest rates, following the announcement

from the Federal Reserve Jerome Powell, a quarter-point rise,

it would appear that the central bankers are all moving in the same direction

to solve the price instability, AK inflation, that is worldwide.

Is it effective? Are they staying the course? These are questions that cannot be answered except for time.

However, Bernie to regime of the Mercator Center joins me my guide on central banking

and it's rushed to make up for what should have to say were oversights in 2022.

Bernie, they're moving in the same direction. Is that adequate?

Can we tell if it's effective? Do we need to wait much longer? Good evening to you.

Good evening John.

The inflation is dropping but it's still way too high to actually declare victory.

When you look at core inflation for the CPI, it's still 5.7% and for the PCEPI,

...