IMF Calls on European Central Banks to Fight Inflation, Raise Interest Rates

The head of the International Monetary Fund (IMF) for Europe said that European central banks must eliminate inflation and not "stop" raising interest rates.

Alfred Kammer explained during a press briefing on the European economy in Stockholm that Inflation must be killed.

He added that if we start to stop raising interest rates and celebrate early, history is full of examples showing that we will need a second attempt to curb inflation while causing damage to the economy.”

In order to control the global wave of inflation, central banks in the United States 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.

Although inflation is slowing on both sides of the Atlantic, the International Monetary Fund called for continued efforts to contain rising prices.