Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The IMF said G20 leaders should keep tightening fiscal and monetary policy to get inflation back under control even as the global economy shows more signs of tilting into recession.
"Recent high-frequency indicators confirm that the outlook is gloomier," than a month ago when the IMF cut its 2023 growth forecast to 2.7% and said nations accounting for a third of global output will contract this year or next. The blog post by Tryggvi Gudmundsson also said Europe especially is showing weakness in the fourth quarter and China is struggling with Covid restrictions and troubles in real estate.
"Despite growing evidence of a global slowdown, policymakers should continue to prioritize containing inflation, which is contributing to a cost-of-living crisis," Gudmundsson said. "Continued fiscal and monetary tightening is likely needed in many countries to bring down inflation and address debt vulnerabilities—and we do expect further tightening in many G20 economies in the months ahead." The report was prepared just ahead of a G20 summit in Bali, Indonesia.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.