BBC: World Bank: Global rate hikes could trigger 2023 recession
Interest rate hikes by central banks around the world could trigger a global recession in 2023, the World Bank has said.
Central banks have raised rates "with a degree of synchronicity not seen over the past five decades" to tackle soaring prices, it said.
Raising rates makes borrowing more expensive to try to bring down the pace of price rises.
But it also makes loans more costly, which can slow economic growth.
The warning from the World Bank comes ahead of monetary policy meetings by the US Federal Reserve and Bank of England, which are expected to increase key interest rates next week.
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WNU Editor: If you use the metrics that were used in the past to measure inflation, unemployment, and economic growth, the data would say that we have been in a recession since this summer.
World Bank Warns Of Global Recession
Risk of Global Recession in 2023 Rises Amid Simultaneous Rate Hikes -- World Bank
World Bank warns higher interest rates could trigger global recession -- The Guardian/Reuters
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World Bank forecast indicates possible global recession in 2023 -- UPI
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