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Search resuls for: "IMF's Gopinath"


9 mentions found


☆ The US dollar has become so weaponized that central banks are snapping up politically-neutral gold
  + stars: | 2024-05-14 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +4 min
Central banks accounted for one-quarter of gold demand in 2022 and 2023, as the institutions bought over 1,000 tons of gold each year, according to the World Gold Council in a recent report. Related storiesThe world's central banks continued buying gold, snapping up 290 tons of gold in the first quarter of this year — the strongest start to any year on record, according to the council. AdvertisementThis suggests that gold purchases by some central banks may have been driven by concerns about sanctions risk, Gopinath said. Central banks will keep buying, despite high pricesWhile China's central bank gold buying has been hogging the headlines, other central banks are also loading up on gold. The World Gold Council wrote in its recent report that other big gold buyers included Turkey and India.
Persons: —, Gita Gopinath, it's, Gopinath, IMF's Gopinath Organizations: Service, Monetary Fund, Business, World Gold, US Treasury, Agency, JPMorgan Locations: Ukraine, Central, Russia, China, Turkey, India
☆ We shouldn't be settling for lower global growth, IMF's Gopinath says
  + stars: | 2023-10-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe shouldn't be settling for lower global growth, IMF's Gopinath saysGita Gopinath, first deputy MD at the International Monetary Fund, discusses the structural reforms needed to boost growth and the challenge for policymakers.
Persons: IMF's Gopinath, Gita Gopinath Organizations: International Monetary Fund
☆ IMF's Gopinath: Uncertainty means ECB interest rates should stay higher for longer
  + stars: | 2023-06-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIMF's Gopinath: Uncertainty means ECB interest rates should stay higher for longerGita Gopinath, first deputy managing director of the International Monetary Fund, discusses the IMF's outlook for further ECB rate hikes, and the external risk factors putting pressure on central banks.
Persons: Gita Gopinath Organizations: International Monetary Fund
☆ Markets are pricing in rate cuts too soon, IMF's Gopinath says
  + stars: | 2023-06-27 | by ( Silvia Amaro | ) www.cnbc.com   time to read: +1 min
Major central banks will have to keep interest rates high for much longer than some investors expect, Gita Gopinath, first deputy managing director of the International Monetary Fund, told CNBC Tuesday. "Now this is unlike, for instance, what several markets expect, which is that things are going to come down very quickly in terms of rates. The ECB began raising rates in July 2022 and has increased its main rate from -0.5% to 3.5% since then. Nonetheless, Fed Chairman Jerome Powell has suggested there could be at least two more rate hikes this year. In a note to clients on Friday, Nomura said it expects both the ECB and the Bank of England to announce rate cuts in about a year's time.
Persons: Gita Gopinath, Gopinath, CNBC's Annette Weisbach, Jerome Powell, Nomura Organizations: International Monetary Fund, CNBC, European Central Bank, ECB, U.S . Federal Reserve, Fed, Bank of England Locations: Sintra , Portugal, Europe
☆ IMF's Gopinath warns AI risks 'substantial disruptions' in jobs markets- FT
  + stars: | 2023-06-05 | by ( ) www.reuters.com   time to read: +1 min
June 5 (Reuters) - IMF First Deputy Managing Director Gita Gopinath has warned of "substantial disruptions in labour markets" stemming from generative artificial intelligence and called on policymakers to quickly craft rules to govern the technology, the Financial Times reported on Monday. "We need governments, we need institutions and we need policymakers to move quickly on all fronts, in terms of regulation, but also in terms of preparing for probably substantial disruptions in labour markets," Gopinath said in an interview to FT.She also advocated for governments to bolster "social safety nets" for workers affected by the adoption of AI, while working on tax policies that do not reward companies replacing employees with machines. Gopinath cautioned policymakers to be careful in case some corporations emerge with an unassailable position in the new technology. "You don't want to have supersized companies with huge amounts of data and computing power that have an unfair advantage," Gopinath told the newspaper. Reporting by Kanjyik Ghosh in BengaluruOur Standards: The Thomson Reuters Trust Principles.
Persons: Gita Gopinath, Gopinath, Kanjyik Ghosh Organizations: Financial Times, Thomson Locations: Bengaluru
☆ IMF's Gopinath sees 'sizeable' upside inflation risks, says markets too optimistic
  + stars: | 2023-05-17 | by ( ) www.reuters.com   time to read: +3 min
2 official said on Wednesday she sees sizeable risks that inflation will remain high or accelerate in many emerging markets and urged central banks to keep monetary policies tight. IMF First Deputy Managing Director Gita Gopinath told a conference hosted by the Central Bank of Brazil that markets were probably "too optimistic" about what it would take to bring down inflation in emerging markets. "Despite encouraging signs, I am worried that price pressures seem entrenched in many economies and that upside inflation risks are sizeable," she said in remarks prepared for the event. That was a lesson learned from the high inflation period of the 1970s and it "very much applies today," Gopinath said. But these countries still faced "considerable downside risks" from monetary policy tightening in advanced economies, and conditions may get "significantly worse," she said.
☆ Davos 2023: China recovery could be very quick -IMF's Gopinath
  + stars: | 2023-01-18 | by ( ) www.reuters.com   time to read: +2 min
DAVOS, Switzerland, Jan 18 (Reuters) - China could see a sharp recovery in economic growth from the second quarter onwards based on current infection trends after the dismantling of most COVID-19 restrictions, IMF Deputy Managing Director Gita Gopinath said on Wednesday. "We expect growth in China to come back, to rebound," Gopinath told Reuters in an interview at the World Economic Forum in Davos. Economists polled by Reuters see Chinese growth in 2023 at around 4.9%, with some of them recently upgrading forecasts to around 5.5%. "But if growth in China comes in much more strongly, which is a possibility, then we could see another spike in oil prices or energy prices," she said. Reporting by Alessandra Galloni and Mark John in Davos; Editing by Catherine EvansOur Standards: The Thomson Reuters Trust Principles.
☆ U.S. inflation has not 'turned the corner yet', IMF's Gopinath warns -FT
  + stars: | 2023-01-05 | by ( ) www.reuters.com   time to read: +2 min
[1/2] Shoppers crowd a supermarket to buy food ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 22, 2022. Gita Gopinath, a deputy managing director of the Fund, urged the U.S. central bank to press ahead with rate rises this year. "If you see the indicators in the labour market and if you look at very sticky components of inflation like services inflation, I think it's clear that we haven't turned the corner yet on inflation," she told the newspaper. In October, the IMF cut its outlook for global economic growth in 2023, reflecting the continuing drag from the Ukraine war as well as inflation pressures and high interest rates engineered by central banks to rein in those price pressures. In the interview Gopinath added that she expected China's economy to suffer significantly in the near term.
☆ IMF's Gopinath: Fed and ECB right to tighten policy - Handelsblatt
  + stars: | 2022-10-17 | by ( ) www.reuters.com   time to read: +2 min
BERLIN, Oct 17 (Reuters) - Inflation in the United States is "very stubborn" and the Federal Reserve should "stay the course" and tighten monetary policy or else lose credibility, said Gita Gopinath, the International Monetary Fund's first deputy managing director. read more"Inflation continues to be very stubborn," Gopinath said of the United States in comments to German business daily Handelsblatt published on Monday. Nevertheless, she said it would be right for the European Central Bank to "normalise its monetary policy by the end of the year and then tighten next year". Starting slowly initially then picking up pace in recent months, the ECB has been unwinding policy support all year and lifted rates by a combined 125 basis points at its past two meetings, the fastest pace of policy tightening on record. read moreRegister now for FREE unlimited access to Reuters.com RegisterWriting by Paul Carrel; Editing by Kim Coghill and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.
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