Bank of Japan Governor Haruhiko Kuroda, Fed Chair Janet Yellen and ECB President Mario Draghi walk during the annual central bank research conference in Jackson Hole, Wyoming. Photo: Reuters/Jade Barker

Leaders of the world’s largest central banks signaled on Sunday that advanced economies were willing to draw out the post-crisis era of easy monetary policy even longer, despite a broad-based uptick in the global economy.

“[Low inflation] complicates considerably the life of central banks in the advanced economies,” former ECB President Jean-Claude Trichet was quoted by the Wall Street Journal as telling the Group of 30 banking conference.

The ECB’s policy of reinvesting its maturing assets “will continue until further notice,” ECB Vice President Vítor Constâncio said.

“The Bank of Japan will consistently pursue aggressive monetary easing with a view to achieving the price-stability target at the earliest possible time,” said Bank of Japan Governor Haruhiko Karuda. “Achieving the 2% target is still a long way off,” he added.

While some warned of risks to financial stability posed by a “new normal” of low interest rates, US Fed chair Janet Yellen said such risks remain “at a moderate level.”

Yellen still sees inflation picking up, saying on Sunday that the effects of temporary factors keeping inflation down will soon subside, suggesting to many that the Fed is still on track for a December rate hike.