IMF chief calls on central banks around the world to continue fighting inflation


Source: firstpost.com firstpost.com

Key Topics in this News Article:

News Snapshot:

Washington, United States: Despite continued concerns about financial stability, central banks around the world should continue to fight inflation by raising interest rates, the chief of the International Monetary Fund told AFP on Thursday. Since last year, central banks have been hiking their benchmark lending rates to combat inflation, which has reached levels not seen in many nations, including the United States, in decades. But, their struggle has been compounded by the recent failure of Silicon Valley Bank due to excessive interest-rate risk, which triggered a period of instability in the banking sector on both sides of the Atlantic. “We...