HSBC calls for higher rates to fight inflation

The chief executive officer of Europe's biggest lender yesterday called on central bankers to raise interest rates in order to combat inflation. Michael Geoghegan, group chief executive officer at London-based HSBC Holdings, said central banks were not...

The chief executive officer of Europe's biggest lender yesterday called on central bankers to raise interest rates in order to combat inflation.

Michael Geoghegan, group chief executive officer at London-based HSBC Holdings, said central banks were not yet committed to taming inflation, and predicted US interest rates would rise after the US presidential election in November.

"Inflation is a long-term problem because there is no long-term will to solve it," Mr Geoghegan said during a speech organised by the Asia Society in Hong Kong.

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