Tight monetary stance needed in many emerging European economies, says IMF
Underlying inflation in central, eastern and southeastern Europe is stronger than in advanced economies, requiring many central banks in the region to maintain a tight monetary stance for longer than the European Central Bank, a top IMF official said. Aided by a retreat in price growth from double digits, some central banks in the region have started lowering interest rates, led by Hungary, Poland and the Czech Republic, with Romania’s central bank holding off on rate easing for now. “The decline of the inflation rate is progressing more slowly in ...
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