Clicky
Business

Central bank chiefs meet to discuss inflation challenge


By AFP
Published : 27 Jun 2022 09:36 PM

Central bank chiefs and economists gather Monday evening at their annual forum in southern Portugal to discuss the best approach to the inflationary challenges exacerbated by Russia's invasion of Ukraine.

Some 200 delegates will attend the ECB Forum on Central Banking at a luxury hotel in Sintra, west of Lisbon, after two years of Covid-imposed virtual gatherings. 

When ECB President Christine Lagarde last attended this event, it was in her previous role as director general of the International Monetary Fund back in 2014.

Also attending will be Jerome Powell, head of the US Federal Reserve, and Andrew Bailey, governor of the Bank of England.

They will be joined by Agustin Carstens, general manager of the Bank for International Settlements and all four are set to discuss the issues at a seminar on Wednesday, the last day of the forum.

In its annual report released on Sunday, the BIS warned that central banks must not let inflation become entrenched, with the threat of stagflation looming over the global economy.