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'Monetary policy must not be used to fight inflation' Email this page
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Mumbai, Mar 18 (PTI) The United Nations Conference on Trade and Development (Unctad) secretary-general Supachai Panitchpakdi today said monetary policy should not be used as an instrument to fight inflation, besides warning of a debt bubble in the making.
"In the past few decades, monetary policies have been more and more gradually based on inflation targeting. I see there should be other instruments to contain inflation rather than monetary policies," Panitchpakdi said, adding monetary policy should be focused more on facilitating investors.

Warning that the world economy may be heading towards a debt bubble, Panitchpakdi said, "we have been burdened by the potential debt bubble from richer economies. We should not underestimate such a kind of crisis."

The debt to GDP ratio will be climbing in advanced economies and go past 100 per cent of the GDP, he predicted.

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