IMF urges European central banks to kill inflation 'beast' with rate hikes

'If rate hikes are paused, you will need to have a second attempt at bringing down inflation, inflicting more economic pain', the IMF's Europe director said

International Monetary Fund logo is seen outside the headquarters building in Washington DC. Credit: Reuters File Photo

The International Monetary Fund on Friday urged European central banks to "kill the beast" of inflation by pursuing interest rate hikes.

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"You need to go and kill that beast" because if rate rises are paused history is "littered" with examples where "you will need to have a second attempt" at bringing down inflation, inflicting more economic pain, the IMF's European department director Alfred Kammer told reporters in Stockholm.