IMF’s Adrian advises central banks to continue tightening to lower inflation

Tobias Adrian,  the Financial Counsellor and Director of the Monetary and Capital Markets Department of the International Monetary Fund (IMF), said on Tuesday, that his “advice to central banks is to continue tightening to lower inflation.”

“Recent tightening of financial conditions has been "orderly",” Adrian added.

His comments come after the IMF warned of inflation’s tenacity and weaker global growth in 2024.

In its latest World Economic Outlook report, the IMF lowered the 2024 global GDP growth outlook to 2.9% from 3.0% while raising the 2024 global CPI forecast to 5.8% from 5.2% in July.