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IMF steering committee to call for vigilance on inflation-draft statement By Reuters

by Mike Robinson

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WASHINGTON, (Reuters) – The International Monetary Fund’s steering group will on Thursday call for enhanced monitoring of inflation dynamics as well as for policymakers being ready to take “decisive measures to preserve price stability”, according to Reuters.

Statement to be published by Fund’s International Monetary and Financial Committee will highlight significantly higher concerns raised at this week’s IMF and World Bank annual meetings about the possibility that inflation spikes might prove more lasting.

The draft statement from the 24 member IMFC stated that the current inflation surge was still being attributed to temporary factors, but is now less likely than expected. Furthermore, upside risks to inflation outlook for the near future are rising in a broad range of countries.

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