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Inflation will likely be tamed next year when rate hikes start to work, IMF chief says

2022-07-16 09:43:47       source:CNBC

July 15, 2022

Global interest rates will likely keep rising until 2023 when heated prices will begin to cool in response to the actions from central banks, according to Kristalina Georgieva, managing director of the International Monetary Fund.

Commodity prices, such as oil, may have leveled out and started sliding in recent months, but Georgieva said that they will do so in response to recession risks and not necessarily because inflation has been tamed.

“Central banks are stepping up to control inflation, it’s a priority. They have to to keep going until it’s clear that inflation expectations remain firmly anchored,” Georgieva told CNBC at the G-20 meeting in Bali on Friday.

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