Citing a draft document, Reuters reported the International Monetary Fund (IMF) will say in its communique that inflation dynamics require close monitoring and policymakers need to be ready to take decisive actions to maintain price stability.
"Inflation surge still assessed as driven by temporary factors such as supply chain disruptions, higher commodity prices."
"Inflation now appears less transitory than previously expected, upside risks to inflation increasing."
"Steps need to be taken to make supply chains more resilient in the future, accelerate the adoption of new and green technologies."
"Delicate balancing act needed to underpin recovery, restore macroeconomic stability."
"New resilence and sustainability trust should not depart from existing IMF model, sees less scope for channelling SDR reserve through multilateral development banks."
"Need to build confidence in G20 common framework on debt restructuring among creditors and borrowers."
The market mood remains upbeat following these remarks with US stock index futures rising around 1% minutes ahead of Wall Street's opening bell.
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