The central bank Chiefs around the world have warned that the era of low interest rates and moderate inflation has come to an end. The massive geopolitical issues between Russia and Ukraine and also COVID-19 pandemic have hit the global economy.
Christine Lagarde, President of ECB, Jay Powell, Chairman of Federal Reserve and Andrew Bailey, Bank of England governor alarmed to take action in curbing the inflation, during a European Central Bank’s (ECB) annual conference.
Raise Interest Rates
They said not raising interest rates quickly will lead to high inflation. Therefore, the central banks are required to take more action in bringing the price growth back to moderate levels.
Powell said, However, the process needs lot of inspirit as it involves lot of pain. But the worst pain...
