MNI BRIEF: No Inflation Impact From China Growth Revision- IMF

Despite China growth likely coming in higher than initially expected this year and next, it is unlikely to have any meaningful impact on inflation worldwide in terms for demand for global commodities channel. IMF deputy managing director Gita Gopinath told MNI Tuesday

The IMF earlier upgraded its growth forecast to 5.4% from 5.0% off the back of stronger consumption demand and government stimulus. For next year, the growth outlook was raised to 4.6% from 4.2%

In other comments, Gopinath said the IMF had not changed its stance on 'higher-for-longer' central bank policy rates, despite the rise in global long-term bond yields.

"Overall (we see) no change, given recent developments; interest rates will still need to be kept high for a while," she said.