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IMF asks US Federal Reserve to delay rate rise IMF asks US Federal Reserve to delay rate rise
(35 minutes later)
In an unusual move, the International Monetary Fund has urged the US central bank to delay any rise in interest rates until 2016. In an unusual move, the International Monetary Fund urged the US central bank to delay any rise in interest rates until 2016.
IMF managing director Christine Lagarde said the Federal Reserve should wait until policymakers see more tangible signs of wage and price inflation. IMF managing director Christine Lagarde said the Federal Reserve should wait to see "more tangible signs of wage or price inflation".
She added that a gradual rise in the US benchmark federal funds rate would be appropriate. The IMF believes that "pockets of vulnerability" in the US economy have emerged.
Ms Lagarde also said the IMF recognised the work that the US had done. These could cause serious trouble for the wider economy, Ms Lagarde said.
She also said that a gradual rise in the US benchmark federal funds rate would be appropriate, while higher rates could cause market volatility.
Ms Lagarde added that the IMF recognised the work that the US had done.
In the IMF's annual assessment of the US economy, she said rate decisions should be data dependent.In the IMF's annual assessment of the US economy, she said rate decisions should be data dependent.
Many Washington watchers predict an interest rate rise this year. Many Washington watchers have predicted an interest rate rise this year.
But recent economic reports have been mixed, including data showing that the US economy shrank an annualised 0.7% in the first quarter.But recent economic reports have been mixed, including data showing that the US economy shrank an annualised 0.7% in the first quarter.