Shaktikanta Das, governor of the Reserve Bank of India (RBI), during an event at the Peterson Institute of Economics (PIIE) during the annual meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC, US, on Friday, Oct. 25, 2024.
Central banks have managed to engineer a soft landing through a period of "continual and unprecedented shocks," but there is still a risk of global inflation returning and of economic growth slowing down, according to India's central bank chief.
Speaking Thursday in Mumbai, India, at CNBC-TV18's Global Leadership Summit, Reserve Bank of India (RBI) Governor Shaktikanta Das said monetary policy from global central banks had largely "performed well" in recent years despite conflicts, geopolitical tensions and higher volatility.
"A soft landing has been ensured but risks of inflation — as I speak to you here today — risks of inflation coming back and growth slowing down do remain," Das said.
Das pointed to several contradictions in global markets to underline his view, including the appreciation of the U.S. dollar, even as the Federal Reserve is cutting interest rates.
Persons:
Shaktikanta Das, Das
Organizations:
Reserve Bank of India, Peterson Institute of Economics, International Monetary Fund, Bank, CNBC, Leadership, U.S ., Federal Reserve, U.S
Locations:
Washington , DC, Central, Mumbai, India, London