The head of the International Monetary Fund has endorsed central banks around the world to retain monetary easing policies to support the current economic recovery trend.

IMF Managing Director Christine Lagarde told the Economic Club of New York Wednesday, local time, that the world is facing the uneven pace of growth and new financial imbalances.

She explained that a three-speed recovery is taking place in the global economy with fast-growing emerging economies taking the lead followed by mid-paced countries like the U.S., and the euro zone and Japan trailing behind.

She said that the excessive transfer of funds to emerging economies and fiscal deficits in the U.S. and Japan are risks.

The IMF chief added that keeping monetary easing policies in place for the time being is desirable as inflation is controllable for now but said that rich economies should take more aggressive fiscal policy to reduce pressure on banks to keep the rate low.