- October 4, 2022
- Posted by: Stratford Team
- Category: Economy
The UN has called on central banks not to increase interest rates and depart from the monetary policy being pursued by a large number of western regulators, including the Bank of England.
A recession worse than that experienced after the global financial crisis could result from monetary regulators tightening policy and hiking interest rates, the United Nations Conference on Trade and Development (UNCTAD) has warned.
The Trade and Development Report 2022, published by UNCTAD on Monday, expressed “worries that an unduly rapid tightening of monetary policy in advanced economies in combination with inadequate multilateral support could turn a slowdown in to recession”.
That would trigger “vicious economic circles in the developing world with the damage more lasting than after the global financial crisis or Covid shock”, the body said.
The actions of the American central bank, the Federal Reserve, known as the Fed, were specifically addressed by…
