World Bank cautions about global recession in 2023

World Bank has cautioned that with central banks simultaneously hiking interest rates, the economy could go towards a global recession in 2023. The global core inflation rate (excluding energy) could stay at about five per cent in 2023, nearly double the five-year average before Covid-19. As per the World Bank, central banks may need to raise interest rates by an additional two percentage points to control inflation.

References
1. https://www.financialexpress.com/economy/warning-signs-flashing-for-global-recession-in-2023-as-interest-rate-hikes-threaten-economic-growth/2669219/
2. https://www.livemint.com/news/world/world-bank-warns-of-global-recession-next-year-amid-simultaneous-rate-hikes-details-here-11663331302382.html