Ex-IMF chief, soon to be ECB President, Christine Lagarde urged global policymakers to “try to reduce the fragility and … resolve the uncertainty,” facing the global economy. She noted that “what we have at the moment is a rather mediocre growth” which is “fragile and it is under threat.”

She added that “central bankers have done an awful lot and were for many years regarded as the only game in town”. And government policies must not step up. However, she also warned that experience showed political intervention on central banks “doesn’t pan out very well”. And central banks should strive to be “predictable”, because “there is enough uncertainty around the world, not to add the uncertainty of what a central banker is going to do.”

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