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Warning highlights country’s growing concern over worldwide increases in pricesBut US and European central banks have said that they consider price increases to be temporary Russia’s central bank says a new financial crisis on the scale of the 2008 collapse could happen in less than 18 months if global inflation is not kept in check.A surge in public and private sector debt levels during the recovery from the pandemic could cause the global economy to “deteriorate drastically and rapidly” if the US Federal Reserve has to jack up interest rates to quell inflation, the Bank of Russia warned in its annual monetary policy forecast.FTInflation could spark new global financial crisis, says Russia’s central bank
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Warning highlights country’s growing concern over worldwide increases in pricesBut US and European central banks have said that they consider price increases to be temporary Russia’s central bank says a new financial crisis on the scale of the 2008 collapse could happen in less than 18 months if global inflation is not kept in check.A surge in public and private sector debt levels during the recovery from the pandemic could cause the global economy to “deteriorate drastically and rapidly” if the US Federal Reserve has to jack up interest rates to quell inflation, the Bank of Russia warned in its annual monetary policy forecast.FTInflation could spark new global financial crisis, says Russia’s central bank
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Warning highlights country’s growing concern over worldwide increases in prices
But US and European central banks have said that they consider price increases to be temporary
Russia’s central bank says a new financial crisis on the scale of the 2008 collapse could happen in less than 18 months if global inflation is not kept in check.
A surge in public and private sector debt levels during the recovery from the pandemic could cause the global economy to “deteriorate drastically and rapidly” if the US Federal Reserve has to jack up interest rates to quell inflation, the Bank of Russia warned in its annual monetary policy forecast.
FT