Affirming that the fight against price rise is not yet over, IMF’s Gita Gopinath on Tuesday said interest rates are likely to stay higher than during the period immediately after the global financial crisis.

There are expectations though that it will come down sometime this year, the International Monetary Fund’s first deputy managing director said.

Speaking at a session during the World Economic Forum Annual Meeting 2024 here, Gopinath dismissed the market bets for a cut in interest rates as premature. She also felt that chances of a deep recession were less likely.

PwC survey

The proportion of CEOs who believe global economic growth will improve over the next 12 months has more than doubled since last year, the annual PwC Global CEO Survey showed on Monday.

The survey, released on the first day of the World Economic Forum Annual Meeting here, also showed that almost half of CEOs do not believe their businesses will be viable in a decade amid acceleration of technology and climate pressures.

The survey, which interviewed over 4,700 CEOs across 105 countries and territories, found that 38 per cent of CEOs are optimistic about global economic growth prospects in the next one year, up from 18 per cent in 2023.

M&M appeal

M&M has told the government there must be a level playing field between domestic and foreign players and local manufacturing must be promoted, a top executive said, as New Delhi seeks to lure car makers such as Tesla.

M&M and Tata Motors have pressed Indian officials privately not to lower import taxes of 100 per cent on electric vehicles and protect domestic firms and their foreign investors.

PTI and Reuters