War in Europe may snuff out global recovery: RBI Dy Governor Michael Patra

Says monetary policy decisions by central banks around the world aimed at their own constituencies. But since inflation is the biggest policy issue right now, it seemed coordinated

The current geopolitical situation arising from Russia's invasion of Ukraine threatens to 'snuff out' global economic recovery post the Covid-19 pandemic, Reserve Bank of India Deputy Governor Michael Patra said on Friday.

"Emerging markets bearing the brunt of the Russia-Ukraine war despite being bystanders," said Patra, addressing an event by industry body PHD Chamber of Commerce.

Patra said that monetary policy decisions by central banks around the world were aimed at their own specific constituencies. But given that inflation is the biggest policy issue right now, it seemed coordinated.

Also Read: Germany on 'gas alarm', sees long-term