The risks of a simultaneous and rapid global tightening
Economists call for a more co-ordinated and gradual increase in interest rates
In a bid to bring inflation down to target, most central banks in advanced economies have embarked this summer on a policy-tightening process unseen since the 1980s.
However, some multilateral organisations and leading economists warn institutions should co-ordinate their decisions and increase interest rates at a more gradual pace. Otherwise, they risk plunging the world economy into a severe recession.
“The simultaneous tightening of monetary and fiscal policies across the world will likely
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