Lagarde highlights threat of renewed EM volatility
An emerging risk of "lowflation" is threatening to harm the incipient recovery in advanced economies, not least the eurozone, International Monetary Fund managing director Christine Lagarde said yesterday during a speech in Aix-en-Provence, France.
"The recent proactive stance by the [European Central Bank] is welcome, and it is encouraging that it is prepared to take further action if inflation remains stubbornly low," Lagarde said.
She added that while "favourable market sentiment seems to be
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