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MNI BRIEF: Fiscal Policy May Become Inflation Fight Enemy- IMF

(MNI) OTTAWA
(MNI) Ottawa
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Poorly targeted fiscal policy could become “the enemy” of monetary policy in the fight against stubborn inflation, IMF Managing Director Kristalina Georgieva said Wednesday, adding to her previous calls for higher interest rates.

“Inflation is stubborn, it’s more broad based than we thought it would be,” Georgieva said while introducing a lecture by Banque de France chief Francois Villeroy de Galhau, and “we need central bankers to be as stubborn in fighting it as inflation demonstrably has been.” (See: MNI: IMF Sees 'Prominent' Global Recession Risk Next Year)

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Poorly targeted fiscal policy could become “the enemy” of monetary policy in the fight against stubborn inflation, IMF Managing Director Kristalina Georgieva said Wednesday, adding to her previous calls for higher interest rates.

“Inflation is stubborn, it’s more broad based than we thought it would be,” Georgieva said while introducing a lecture by Banque de France chief Francois Villeroy de Galhau, and “we need central bankers to be as stubborn in fighting it as inflation demonstrably has been.” (See: MNI: IMF Sees 'Prominent' Global Recession Risk Next Year)

Keep reading...Show less