Posted 12/6/2023, 6:56:44 PM
BlackRock: World Facing Era of Slower Growth and Higher Rates As Inflation Pressures Build
- World entering new era of lower economic growth and higher interest rates according to BlackRock
- Inflation will be more volatile due to shifts like ageing populations, climate investment, and AI race
- UK business investment to shrink 0.8% in 2024 due to higher costs and interest rates
- UK exports only expected to rise 0.5% in 2024 following contraction in 2023
- UK economic growth forecasts lowered to 0.4% in 2024 and 0.6% in 2025