IMF issues inflation warning to world's central banks

IMF issues inflation warning to world's central banks

The International Monetary Fund has warned that central banks around the world are failing to stop deflation.

Its half-yearly World Economic Outlook says that urgent action is needed to reverse a slowdown in global trade, and to break a pattern of low growth, low job creation and high debts.

The gloomy report adds that a wave of protectionist policies since 2012 have led to a fall-off in international trade.

This comes after the World Trade Organisation cut its forecast for global trade growth in 2016 by more than a third.

This would be the lowest growth rate since the onset of the global economic crisis.

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