Last update: 08-Dec-2013 9:50 pm
Sunday, December 08, 2013
Trinidad & Tobago Guardian Online
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IMF head: Weak nations still need central bank aid
JACKSON HOLE—The head of the International Monetary Fund cautioned the world’s major central banks yesterday not to withdraw their unconventional support for weak economies too soon. IMF managing director Christine Lagarde said stimulative policies are still needed in key regions, especially Europe and Japan, which have struggled with prolonged weakness. She spoke at an annual economics conference in Jackson Hole, Wyoming, sponsored by the Kansas City Federal Reserve Bank.
Lagarde said central banks must carefully develop strategies for scaling back their efforts to keep borrowing rates low. Any pullback should be determined by the strength of individual economies, she said. Her comments come as the Fed is signalling that it could slow its bond purchases later this year if the US economy continues to improve. The Fed’s bond buying has helped keep US interest rates near record lows.
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