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The European Central Bank and other policymakers across Europe need to keep interest rates at current elevated levels until they're sure inflation is under control despite sluggish growth, the International Monetary Fund said Wednesday, warning against “premature celebration” as inflation declines from its peak. The Washington-based IMF said that cost of underestimating inflation's persistence could be painfully high and result in another painful round of rate hikes that could rob the economy of a large chunk of growth. 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, while some have started to reduce policy rates,” the IMF said in its twice-yearly regional economic outlook for Europe.
(Bloomberg) -- The International Monetary Fund called on states across the Middle East and North Africa to curb their dominance over their local economies, one of a brace of proposals it said would boost the region’s sluggish growth.Most Read from BloombergIsrael Latest: Army Says Over 600,000 Gazans Have Fled SouthUS Pushes to Contain Israel-Hamas War, Warns Iran About EscalationIsrael Latest: Biden and Abbas Talk as Gaza Invasion NearsGlobal Markets Stable as US Pushes to Contain Middle East W
(Bloomberg) -- Brazil’s and Mexico’s labor markets are extending their hot streaks into the third quarter in an unexpected performance that has underpinned the strength of Latin America’s two largest economies.Most Read from BloombergPakistan Rupee Set to Become Top Performing Currency Globally Europe’s Richest Royal Family Builds $300 Billion Finance EmpireTop Chinese Scientist Claims India Moon Landing Nowhere Near South PoleUAW Aims For At Least 30% Wage Bump to Woo New MembersBiden Impeachme
Britain is facing a prolonged economic slump caused by higher interest rates, economists have warned, with the battle against inflation set to weigh on growth for years to come.
Washington DC, US (PANA) - Growth across Sub-Saharan Africa remains sluggish, dragged down by uncertainty in the global economy, the underperformance of the continent’s largest economies, high inflation, and a sharp decelera