OECD cuts 2023 global growth outlook to 2.2% amid monetary tightening

Politics Economy

The global economy will likely grow 2.2 percent in 2023, slower than the 2.8 percent projected earlier, weighed down by monetary tightening in advanced economies to fight inflation, the Organization for Economic Cooperation and Development said Monday. Japan will see growth of 1.4 percent next year, slower than the 1.8 percent expansion previously forecast in June, the OECD's economic outlook report showed, even as the Bank of Japan is in no rush to tweak its ultralow rate policy. Global economic growth stalled in the second quarter of 2022 as Russia's war against Ukraine has lifted energy, fo...

Kyodo News

Kyodo News