IMF warns of further market sell-offs as central banks adjust policy

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The International Monetary Fund has warned of more market sell-offs as central banks try to combat higher inflation and ease back on pandemic stimulus measures. Market players had started the year on an optimistic footing, predicting some economic momentum on the back of an easing of Covid-19 restrictions, which would likely provide a boost to stocks. However, since Russia’s unprovoked invasion of Ukraine on Feb. 24 that outlook has worsened — with further supply chain shocks and energy price rises. “There is certainly a risk of further sell-offs,” Tobias Adrian, director for monetary and capital markets at the IMF, told CNBC Tuesday. “The intended consequences of monetary t