IMF says central banks should not rush into rate cuts

The IMF sees a greater risk to the global economy if central banks start cutting interest rates too soon than if they move "slightly" too late, Managing Director Kristalina Georgieva said Thursday. The US Federal Reserve, the European Central Bank (ECB) and others have held interest rates elevated in recent months in an attempt to bring inflation back down toward target, following a post-pandemic surge in prices. '50 feet above ground'Georgieva's comments come a day after the US Fed's rate-setting committee voted to hold interest rates steady. At a press conference following the decision, Fed Chair Jerome Powell poured cold water on the idea of an interest rate cut at its next meeting in March -- sending stocks on Wall Street lower. Earlier in the week, ECB President Christine Lagarde said policymakers were confident that a rate cut was coming, but would not commit to a specific date.