CENTRAL bankers are remarkably settled about the rising oil price and other commodity prices - at least in the US, they expect prices to "stabilise" and eventually fall - but the fact is, prices have kept on rising, not least of the cost of oil.

Overnight, the head of the US Federal Reserve said higher prices for oil and other raw goods had had only a "limited" impact on broader prices.

"The pass-through of high raw materials costs to domestic labour costs and the prices of most other products has been limited," the chairman of the US Federal Reserve Ben Bernanke said. ... Read full article