IMF chief: Lower rates needed in ‘anaemic’ economy

IMF managing director Christine Lagarde. Picture: Getty

IMF managing director Christine Lagarde. Picture: Getty

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LOWER global interest rates and the possibility of more quantitative easing by central banks will remain necessary for as long as worldwide macro-economic growth remains weak, the head of the International Monetary Fund (IMF) claimed yesterday.

IMF managing director Christine Lagarde wrote in an Italian business newspaper: “Accommodative monetary policy will continue to be necessary while growth remains anaemic, although we must pay very close attention to the risk of potential spillover.”

She also called for fresh political impetus to activate measures agreed by the G20 countries last month, and stressed that the banking industry needed to change culturally and “behave ethically”.

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