Monetary policy faces tougher trade-offs – IMF panel

Financial instability risks may be abated with changes to inflation targets and tools

Gita Gopinath
Gita Gopinath
IMF Staff Photograph/Stephen Jaffe

Monetary policy now faces more serious trade-offs, said Gita Gopinath, first deputy managing director of the International Monetary Fund, on April 14.

“We’re in an economy where we’re going to be hit more by supply shocks,” she said, speaking on a panel at the World Bank and IMF Spring Meetings.

Core inflation remains stubbornly high “and is quite sticky”, warned Gopinath. She said central bankers have not seen the softening in labour market conditions they had predicted, despite tighter

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