The chief executive of Europe's biggest lender on Tuesday called on central bankers to raise interest rates in order to combat inflation.
Michael Geoghegan, group chief executive at London-based HSBC Holdings, said central banks were not yet committed to taming inflation, and predicted U.S. interest rates would rise after the U.S. presidential election in November.
"Inflation is a long-term problem because there is no long-term will to solve it," Geoghegan said during a speech organised by the Asia Society in Hong Kong.