Xi urges G20 wealthy nations to reduce fallout of rate hikes ...Middle East

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Xi urges G20 wealthy nations to reduce fallout of rate hikes
NUSA DUA: Chinese President Xi Jinping on Tuesday asked the G20 wealthy nations to contain the fallout from interest rate hikes, as the US Federal Reserve moves aggressively to fight inflation.“We must contain global inflation and resolve systematic risks in the economy and finance,“ Xi told a summit of the 20 major economies taking place in Bali.“Developed economies should reduce the negative spillover effects of their monetary policy adjustments and stabilise debts at a sustainable level,“ he said.The Federal Reserve has raised interest rates to their highest level since before the 2008 financial crisis as it seeks to tighten money supply in an effort to wrestle back inflation.The US monet

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