Inflation ahead, warns Greenspan

Central banks must hike rates in order to curb global inflation, Alan Greenspan, the former chairman of the Federal Reserve, warned on Tuesday.

Speaking in Tokyo, Greenspan said: "I'm concerned that we're moving from this 20 to 18-year disinflationary period and beginning to move in the other direction."

He also said central banks should avoid trying to correct asset bubbles. The global economy was still doing well in spite of the "extraordinary" rise in the price of oil, which hit $95.75 on

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