The monetary tightening by major central banks is undermining the world economy, they warn The central banks’ aggressive fight with price pressures by raising interest rates could plunge the global economy into recession, Bloomberg reported on Friday, citing economists. The experts pointed out that after they increased rates by half a percentage point, the heads of the US Federal Reserve, the European Central Bank (ECB) and the Bank of England (BoE) all signaled the need for further increases, even as they acknowledged that their economies were weakening. The mounting risk is that an even greater tightening of mon
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