IMF's Rajan urges caution on further ECB rate hike

IMF chief economist Raghuram Rajan has called on the European Central Bank to wait for evidence that an economic recovery is taking hold in the euro zone before raising interest rates again.

"It makes sense to wait for the data to confirm a stronger recovery before embarking on a process of rate rises," Rajan told reporters.

"We have seen hints of recovery. it makes sense for the data to confirm it before moving much further down this path," he said.

Rajan did not say whether he felt that the EC

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