Central banks must resist pressure for early rate cuts, says IMF head

Kristalina Georgieva, director of the IMF, says high inflation has not been fully defeated. Photograph: Jim Lo Scalzo/EPA

The world’s leading central banks must resist calls from politicians for early interest rate cuts amid concerns over stubbornly high inflation on both sides of the Atlantic, the head of the International Monetary Fund has urged.

Kristalina Georgieva said high inflation across advanced economies was “not fully defeated” and could require a longer wait before reducing borrowing costs.