Don't rely on oil discount, warns IMF's Lipsky

John Lipsky, the first deputy managing director at the International Monetary Fund, has warned central banks to stop relying on a fall in oil prices to temper inflation.

"Underlying inflationary pressures are building in many emerging and developing economies and policy rates remain low in real terms. Monetary policies may be "behind the curve" in some cases and banking on immediate relief from retreating oil prices is risky," Lipsky said. "Instead, policies in these instances need to be

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