IMF chief economist: The battle against inflation has been largely won

Pierre-Olivier Gourinchas, chief economist of the International Monetary Fund (IMF), said in a statement on October 22 that global inflation, which has suppressed risky assets such as cryptocurrencies and technology stocks, will fall to 3.5% by the end of 2025, thanks in large part to the resilience of the global economy. "In most countries, inflation is currently hovering around central bank targets. Now inflation is falling, and the global economy remains resilient. Economic growth is expected to stabilize at 3.2% in 2024 and 2025." Analysts believe that lower inflation will bring a series of benefits, such as lower costs of living and lower interest rates, which may be beneficial to risky assets such as cryptocurrencies. However, Gourinchas pointed out that escalating geopolitical and trade tensions in the Middle East, coupled with the imminent US presidential election, still bring considerable uncertainty. (Cointelegraph)