‘Unprecedented' US rate normalisation is global economy's biggest challenge, says IMF

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Managing the "unprecedented" withdrawal of loose US monetary policy is the biggest challenge facing the global financial system, according to the International Monetary Fund (IMF), which warns that tapering by the Federal Reserve could cause long-term interest rates to overshoot and expose substantial weaknesses in advanced and emerging countries alike.

Speaking in Washington at the release of the first chapter of the IMF's Global Financial Stability report (GFSR), IMF monetary and capital marke

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