ANU Crawford School of Public Policy Warwick McKibbin says central banks should prioritise dealing with the high "inflation shock" worldwide by increasing interest rates. "The financial parts of the Fed and other regulatory agencies need to deal with the financial instability at the same time but using different instruments," he told Sky News host Sharri Markson. "It's important if inflation isn't tamed now, the cost to the economy and low-income individuals will be far worse than the impact of higher interest rates for a shorter period."... ( read more )
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Interest rates, the cost of borrowing money, have been kept low for years by central banks around the world to stimulate economic growth in a post-financial crisis environment. However, with ri
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