NUSA DUA, Indonesia, Oct 11, 2018 (BSS/AFP) – IMF chief Christine Lagarde
on Thursday defended central bank rate hikes, calling them a “necessary
development”, after markets plunged in response to US president Donald Trump
blasting the Fed for going “crazy” with plans to raise borrowing costs again.
“It is clearly a necessary development for those economies that are
showing much improved growth, inflation rising, unemployment extremely low,”
Lagarde told a press briefing at the Fund’s annual meetings in Bali.
“It’s inevitable.”