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Top central bankers bat for higher interest
Mint Mumbai
|June 29, 2023
Powell, Lagarde and Bailey said the strong jobs market was driving inflation, which has shifted to service sector
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Leading global central bankers asserted on Wednesday that they are not backing off their steep interest rate increases, pointing to inflation being more persistent than expected but still downplaying fears of recession from their hikes.
The clear message was that rates would stay high until the inflation beast is subdued, according to a panel discussion with US Federal Reserve chair Jerome Powell, European Central Bank president Christine Lagarde, Bank of England governor Andrew Bailey and Bank of Japan governor Kazuo Ueda.
This story is from the June 29, 2023 edition of Mint Mumbai.
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