July 27, 2022 - 12:21 PM 239 views
According to Reuters polls of more than 500 forecasters worldwide, "the global economy is in the throes of a significant downturn, with some key economies at high risk of recession and only sparse meaningful lowering in inflation over the next year."
In most of the near-50 economies included by the Reuters surveys from June 27 to July 25, inflation has not decreased despite their robust response—in some cases, the greatest in previous decades.
Only 13 percent of the 48 economies studied by the study had their growth predictions for the following year left intact, and 10 percent had their predictions enhanced.
Nearly 90 percent of the 48 economies' inflation predictions for 2019 and more than 45 percent for 2024 have been upgraded. That implies that households will not experience a quick respite from the cost of living crisis.
Almost all respondents (86%) predicted that it would be at least the following year before the crisis started to ease significantly, with 39% predicting that it would take longer.
11 of the top 19 central banks worldwide are expected to see inflation return to target in 2019. The other eight, which include some of the biggest institutions including the Federal Reserve, the European Central Bank, the Bank of England, and the Reserve Bank of India, won't.
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