IMF's Georgieva says inflation remains stubborn, central banks must continue to press

International Monetary Fund

Managing Director Kristalina Georgieva

speaking, wide-ranging comments:

• Not expecting to downgrade October forecast for 2.7% global growth in 2023
• Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term remains stubborn and central banks must continue to press for price stability
• Downside risk of spiking oil prices did not materialize, labor markets remain vibrant
• Expects global economy to 'bottom out' toward end of 2023, early 2024, barring unexpected surprises
• Important for China to 'stay the course' in reversing earlier zero-covid policy
• Biggest risk to 2023 outlook is possible spilllover from Russia's war in Ukraine, social unrest
• IMF's projection for 4.4% growth in china depends on transition away from zero-covid policy
• Any US Recession would be mild, expects China to become net contributor to global economy by mid-year

• Says the Bank of Japan is pursuing appropriate review of monetary policy stance but should keep policy accommodative

Headlines via Reuters