Posted 10/27/2023, 10:42:56 AM
High inflation to persist in 2023, pushing central banks to maintain high rates
- Inflation to remain high in 2023, pushing central banks to keep interest rates elevated for longer than expected
- 75% of economists surveyed see upside risk to inflation forecasts, skewing higher than current projections
- Global economic growth forecast downgraded for 2023 amid high inflation and interest rates
- U.S. economy unexpectedly grew nearly 5% in Q3, bucking the trend of slowing growth in other major economies
- First interest rate cuts by central banks expected in mid-2024, later than previously thought, as they try to bring down stubborn inflation
