Roubini Says BOE, ECB Must Raise Rates to Avoid Stagflation

(Bloomberg) — The European Central Bank and the Bank of England must keep raising interest rates to ward off “stagflation,” the prominent economist Nouriel Roubini warned.

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The famously pessimistic Roubini said the recent rise in oil prices will keep headline inflation high and that any talk of easier monetary policy is premature. The ECB and BOE face a bigger dilemma than the US Federal Reserve because prices in Europe are still rising fast and growth is slowing,…