Posted 12/4/2023, 1:25:00 PM
Sluggish Growth and Default Risks Loom Over Global Economy in 2024
- Global economic growth to remain sluggish in 2024 amid high inflation and interest rates
- Risk of borrowers defaulting on loans increasing, weakening banks' asset quality
- Property and real estate stress building in U.S., Europe, and Asia-Pacific
- Bank profitability squeezed by higher funding costs, lower loan demand, more loan loss provisions
- Capital levels expected to broadly hold up despite other headwinds