A global slowdown in growth and stickier inflation risks persist, but some pockets of resilience remain, said Moody's Investors Service.
An aerial view shows the Central Bank of India building, in Mumbai, India, 28 September, 2022. The global economy is set to slow down as inflation remains stickier than expected — but there may be some "pockets of resilience," according to Moody's Investors Service.
"We're expecting globally a slowdown in growth, and that will have an impact on [emerging markets] Asia through trade conditions as well as access to financing in the region," Marie Diron, managing director for global sovereign and sub-sovereign risk at Moody's Investors Service, told CNBC Thursday. Diron said the slowdown can be attributed to three factors: higher interest rates that persist, China's slowing growth, as well as financial system stresses.
While central banks have managed to steer the global economy and "create a disinflationary trend" by raising interest rates, inflation risks are still a sticking point, she said. "There are still risks out there that inflation could prove stickier ... than currently expected, and that would lead to higher risks for longer and slower growth," explained the managing director.
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