Saturday, June 14, 2025
  • Login
  • News
  • Business
  • Politics
  • Crime
  • Entertainment
  • Featured
  • Icons
  • Opinion
  • World
  • Tech
No Result
View All Result
No Result
View All Result
  • News
  • Business
  • Politics
  • Crime
  • Entertainment
  • Featured
  • Icons
  • Opinion
  • World
  • Tech
Home News

Rate hikes: W’Bank warns FG of incoming recession

by Jam theconscienceng
September 23, 2022
in News, Featured
0
Nigeria
Share on FacebookShare on Twitter
Share on Facebook Share
Share
Share on Twitter Share
Share
Share on Linkedin Share
Share

Recession Recession

Rate hikes: W’Bank warns FG of incoming recession

The World Bank Group has warned Nigeria as well as other developing economies that continuous rate hikes in response to increasing inflationary pressure may cause a global recession and a string of financial crises.

In its new study titled “Risk of Global Recession in 2023 Rises Amid Simultaneous Rate Hikes,” the Washington-based bank said the currently expected trajectory of interest-rate increases and other policy actions might not be sufficient to bring global inflation back down to levels seen before the pandemic.

Central banks around the world have been raising interest rates this year with a degree of synchronicity not seen over the past five decades—a trend that is likely to continue well into next year, according to the report.

Investors expect central banks to raise global monetary policy rates to almost 4 per cent through 2023—an increase of more than two percentage points over their 2021 average.

According to the report, unless supply disruptions and labour-market pressures subsided, those interest-rate increases could leave the global core inflation rate (excluding energy) at about 5 percent in 2023—nearly double the five-year average before the pandemic, the study found.

Recession

To cut global inflation to a rate consistent with their targets, central banks might need to raise interest rates by an additional two percentage points, according to the report’s model. If this were accompanied by financial-market stress, global GDP growth would slow to 0.5 per cent in 2023—a 0.4 per cent contraction in per–capita terms that would meet the technical definition of a global recession.

Share this:

  • Click to share on X (Opens in new window) X
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on WhatsApp (Opens in new window) WhatsApp
READ MORE:  World Bank debtors’: Nigeria, three others top list

Like this:

Like Loading...

Related

Tags: Regional recessionWorld Bank
ShareTweet
Previous Post

FirstBank Hosts Financial Markets Dealers Association

Next Post

Electricity: customers pay N210bn in three months

Jam theconscienceng

Jam theconscienceng

Related Posts

Like Ojude Oba, Ibeju Lekki Festival Holds Great Potential for Development- Mayegun
News

Like Ojude Oba, Ibeju Lekki Festival Holds Great Potential for Development” – Chief Mayegun

by TheConscience NG
June 12, 2025
download 11
News

CBEX Remains Banned In Nigeria – SEC

by Reporter theconscienceng
June 11, 2025
images 1 3 2
News

HIV Negative Couple Confused As Baby Tests Positive

by Reporter theconscienceng
June 11, 2025
images 1 2 2
News

Tinubu Hosts Chess Champion Tunde Onakoya In Lagos

by Reporter theconscienceng
June 10, 2025
download 5
News

UNIPORT Student Killed in Suspected Homicide, Police Investigate

by Reporter theconscienceng
June 10, 2025
images 1 1 1
News

Tithes, Offerings Do Not Go To Heaven- Abel Damina

by Reporter theconscienceng
June 9, 2025
Next Post
FG Signs $329m Deal With Chinese Firm for Power Supply

Electricity: customers pay N210bn in three months

No Result
View All Result

Recent Posts

  • NNPCL Declares N5.89trn Revenue, N748 Profits For April 2025
  • Like Ojude Oba, Ibeju Lekki Festival Holds Great Potential for Development” – Chief Mayegun
  • Top Fashion Businessman and CEO of YORMAGES, Yomi Awoyemi Adds Glamour to Ibeju Lekki and Ojude Oba Festivals
  • CBEX Remains Banned In Nigeria – SEC
  • Alleged $1bn Fraud: Court Fixes June 30 For Ruling In CBEX Operators’ Bail Request

Get the latest news on the go!

Enter your email address

© 2025 TheConscience NG

TheConscience NG

  • About
  • Contact Us
  • Privacy-Policy
  • Terms and Conditions
  • TheConscienceNg.com | Breaking & Verified Nigerian News on the go!

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
X
Subject:
Message:
Ajax loader
No Result
View All Result
  • News
  • Business
  • Politics
  • Crime
  • Entertainment
  • Featured
  • Icons
  • Opinion
  • World
  • Tech

© 2025 TheConscience NG

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Share with friends
Share on Facebook Share
Share
Share on Twitter Share
Share
Share on Linkedin Share
Share
%d