FRANKFURT, March 18 - The world's top economies are on track for a"soft landing" but inflation has not yet been fully defeated, the head of a central bank umbrella group warned on Monday just as policymakers debate the merits of cutting interest rates from multi-decade highs.
"It seems that we are on route to a soft landing," Agustín Carstens, the General Manager of the Bank for International Settlements said in a speech in Frankfurt."Lower inflation has come at a remarkably small cost to the real economy." Yet some recent indicators on underlying inflation on both sides of the Atlantic have raised fears that price growth could be more persistent than some of the more benign expectations out there suggest.
He also warned that a host of factors such as de-globalisation, economic fragmentation, adverse demographic trends and the need to fight climate change, will keep prices under pressure over the medium term, requiring central banks to follow through with their pledges to curb inflation.
Source: Financial Digest (financialdigest.net)
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