Why are interest rates still rising?

Pryce, Vicky (2023) Why are interest rates still rising? Birmingham City University, Centre for Brexit Studies Blog.

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Abstract

You may be forgiven for still wondering when the current interest rate hiking cycle might end given that the world economy is not picking up pace fast enough, despite the fact that the energy crisis seems to have abated. Monetary tightening continues even though the latest IMF forecast remains pretty pessimistic about overall growth returning to pre-pandemic rates any time soon. The IMF’s latest projection for overall global growth is for it to fall from 3.5% in 2022 to just 3% for this year as a whole and stay at that rate also in 2024. It blames this on the fact that “the rise in central bank policy rates to fight inflation continues to weigh on economic activity”.

Item Type:	Other
Dates:	Date Event 28 July 2023 Published Online
Uncontrolled Keywords:	Centre for Brexit Studies, CBS, Brexit, BCU, EU, European Union, UK, Birmingham City University, UK Government, UK politics
Subjects:	CAH15 - social sciences > CAH15-03 - politics > CAH15-03-01 - politics
Divisions:	Research, Innovation, Enterprise > Centre for Brexit Studies
Depositing User:	Gemma Tonks
Date Deposited:	27 Oct 2023 13:25
Last Modified:	27 Oct 2023 13:25
URI:	https://www.open-access.bcu.ac.uk/id/eprint/14879

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