Monetary policy moves in rich countries may trigger global recession: UN agency
2022-10-05 09:15:17 source：CGTN
October 4, 2022
Monetary and fiscal policy moves in advanced economies may drag the global economy into recession and protracted stagnation, inflicting more pain than the 2008 financial crisis and the 2020 COVID-19 shock, a United Nations agency warned on Monday.
Central banks in advanced economies have failed to tame inflation and generate healthier growth in a decade of ultra-low interest rates, the UN Conference on Trade and Development (UNCTAD) said in its annual report.
Counting on them to hike interest rates while avoiding recession now is an "imprudent gamble," the report added.
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