The International Monetary Fund warned that price growth in many major economies has been cooling slower than expected, flagging a potential risk to global growth from persistently high rates.
The International Monetary Fund warned that inflation in many major economies has been cooling slower than expected, flagging a potential risk to global growth from interest rates staying higher “for even longer.”released on Tuesday, zeroed in on stubborn services inflation, mainly driven by higher wages. It also pointed to price pressures from trade and geopolitical tensions, particularly on commodities like oil.
The IMF revised higher its outlooks for China and India, which will account for nearly half of global growth, and predicted that the euro area is also poised to pick up. Higher US rates for longer will also sustain upward pressure on the dollar, complicating emerging-market inflation, interest rates, growth and debt.Gourinchas also cautioned that government balance sheets are weak coming out of the pandemic, leaving them vulnerable to new shocks.
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