IMF Chief Says Policy Suggestions are Reserved for Every Agency, Not ECB

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IMF Chief Says Policy Suggestions are Reserved for Every Agency, Not ECBThe chief of the International Monetary Fund has rebuffed a recent remark by a European central banker that the IMF rates his agency more than others, including the U.S. Federal Reserve.

“We do say what we have to say when we think that it’s appropriate to say it,” IMF Managing Director Christine Lagarde said in a Sunday interview that aired on Fox News.

Lagarde dismissed comments made last week by Mario Draghi, the President of the European Central Bank, who addressed reporters, saying the IMF was extremely generous in its suggestions” concerning the policy decisions by his bank-more than other central banks.

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This was in reference to Wednesday’s comments by Lagarde, one day before the ECB held its monthly policy meeting. She suggested that the bank should ease its monetary policy to fuel a rise in prices to combat low inflation, making Draghi question the timing of her remarks.

The ECB didn’t change its policies in the meeting last week, reported Reuters.

Lagarde, speaking to Maria Bartiromo, who hosts Fox program Sunday Morning Futures, that the comments were not new and that her bank had warned for many months that ECB should urgently tackle the low inflation.

“I believe that, with the risk of low inflation as we see it, it would be extremely helpful if the monetary policy was addressing it,” Lagarde said.”I’m sure that the head of the European Central Bank will have the wisdom to identify what is best and when it should be done.”

To contact the reporter of this story; Jonathan Millet at john@forexminute.com