World Economic Outlook Update, January 2024: Moderating Inflation and Steady Growth Open Path to Soft Landing
The risks to global growth are broadly balanced and a soft landing is a possibility.
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Volume/Issue:
Volume 2024
Issue 003
Publication date: January 2024
ISBN: 9798400259753
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Topics covered in this book
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Economics- Macroeconomics , International - Economics , inflation , growth , monetary policy , debt , policy tradeoffs , global economy
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Summary
Global growth is projected to stay at 3.1 percent in 2024 and rise to 3.2 percent in 2025. Elevated central bank rates to fight inflation and a withdrawal of fiscal support amid high debt weigh on economic activity. Inflation is falling faster than expected in most regions, amid unwinding supply-side issues and restrictive monetary policy. Global headline inflation is expected to fall to 5.8 percent in 2024 and 4.4 percent in 2025, with the 2025 forecast having been revised down.
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