Maharashtra Economic Development Council महाराष्ट्र आर्थिक विकास मंडळ

Central banks and global recession

28 JAN,2023 | MEDC

RBI has taken appropriate steps in its recent monetary policy announcements. Even though the world's inflation problem is easing, a recession still seems likely. The US Fed has already declared that the chances of a rate cut this year are slim. The reopening of China is expected to push up commodity prices, apart from further enhancing the chances of another global Covid outbreak. In many developed nations unemployment is rising, and predicting the depths of a downturn in such conditions is difficult. And an important lesson from recent years is that if something can go wrong, it often does. Inflation may be under control, but it is not sure to remain that way. The silver lining is that the warm weather in much of Europe is likely to continue, so a Russian gas cut may not have a devastating effect on European economies this winter. The overall situation may not be too bright, but there are glimmers of hope.

*Picture Credit -Google

Central banks and global recession

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