( ) -q-24- UNDATED (Correspondent Jeremy House) “portion of growth.” A word of advice from the International Monetary Fund to bank officials across Europe. [CutID: <Cuts> IMF-INFLATION-house-q-WEDam.mp3 Time: 24s Title: IMF-INFLATION-house-q-WEDam Out-cue: portion of growth] TAG: Correspondent Jeremy House reporting. The IMF said in its twice-yearly regional economic outlook for Europe that the European Central […]
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IMF warns Europe against prematurely declaring victory over inflation
( ) -q-24- UNDATED (Correspondent Jeremy House) “portion of growth.”
A word of advice from the International Monetary Fund to bank officials across Europe.
[CutID: <Cuts> IMF-INFLATION-house-q-WEDam.mp3
Time: 24s
Title: IMF-INFLATION-house-q-WEDam
Out-cue: portion of growth]
TAG: Correspondent Jeremy House reporting. The IMF said in its twice-yearly regional economic outlook for Europe that the European Central Bank and the other central banks that aren’t part of the 20-country eurozone are reaching the peak of their interest rate cycles. Inflation in the eurozone peaked at 10.6% in October 2022 and has steadily fallen to 2.9% in October.
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VERBATIM: The IMF says the European Central Bank and other policymakers need to keep interest rates at current elevated levels until they’re sure inflation is under control despite sluggish growth. The Washington-based IMF says the cost of underestimating inflation’s persistence could be painfully high. It adds the cost could result in another painful round of rate hikes that could rob the economy of a large portion of growth.