PANews reported on May 17 that, according to Jinshi, TsLombard stated that in the face of oil price shocks, the extent to which global central banks tighten policies is likely to be quite limited, and an aggressive tightening cycle is unlikely to occur.

In the US, the likelihood of the Federal Reserve implementing policy tightening in the short term is low, and even if it does, it's almost certain to happen before 2027. In Europe, the energy shock is already dragging down economic activity. The UK labor market has been volatile for some time, and hiring sentiment in Europe is becoming increasingly weak. The possibility that the European Central Bank and the Bank of England will tighten less this year than the market expects is currently being underestimated.