The International Monetary Fund (IMF’s) Europe director, Alfred Kammer, Friday said European central banks must eliminate inflation and “not to stop” raising interest rates, according to the Washington Post.
“This monster [inflation] must be killed,” Kammer told a press briefing on the European economy in Stockholm. “If we start to stop hiking rates and celebrate early, history is full of examples showing that we will need a second attempt to rein in inflation by damaging the economy again.”
To control the global wave of inflation, central banks in the US and Europe, in particular, raised interest rates dramatically since last year, which caused a slowdown in the global economy and raised concerns about the banking sector.
Source: Jordan News Agency