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

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.