Surging inflation combined with a marked tightening of monetary policy, amid an environment of weakening confidence levels and heightened geo-political tensions, especially in relation to Ukraine, saw the world economy slow sharply during 2022
Nonetheless, significant risks remain to the economic outlook.
Meanwhile, China’s expected economic rebound this year has underwhelmed, amid ongoing problems in the real estate sector and concerns about the stability of the financial system
Thus, it is still too early to conclude the global economy will emerge largely unscathed from the substantial tightening of monetary policy seen in the past couple of years
