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• She said incomes would be eroded if inflation isn’t controlled
International Monetary Fund (IMF) chief, Kristalina Georgieva, said that global interest rates would continue rising until 2023 after which inflation would begin to cool down in response to the actions from central banks.
“Central banks are stepping up to control inflation, it’s a priority. They have to to keep going until it’s clear that inflation expectations remain firmly anchored,” Georgieva spoke at the G-20 meeting in Bali on Friday.
“At the moment we still see inflation going up; we have to throw some cold water on it.”
She added that controlling inflation was extremely essential otherwise incomes would be eroded, hitting hardest in the poorest parts of the world.
Reflecting lessons learned from past economic crises, Yellen told the G-20 on Friday that it was crucial for governments to establish and maintain a “playbook” of policy responses which would “minimize the duration and severity of recessions” and “mitigate adverse economic consequences on firms and individuals.”
Source - Twitter
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