Interest rates are rising. Not only in Poland. In order to combat inflation, they were also raised by central banks, for example in the USA, Great Britain and Switzerland. This is a global trend – as many economists claim – It will end in stagnation. An economic downturn awaits the poorer and richer countries. Including the richest.

Rob Subaraman, chief economist at Nomura Holdings, said on US CNBC on Tuesday that the US recession will start in the last quarter of the year. “It will be shallow, but long– said the expert.

However, economic problems do not wait for America alone. Subbaraman expects a recession in the next 12 months too In the Eurozone, Japan, Canada, Australia, South Korea and the United Kingdom.

Rob Subbaraman says the increased confidence in the emergence of an economic slowdown is due to the fact that with the global recession, the ability to drive economies through exports will diminish. At the same time, he stressed that in the current situation one simply has to overcome the effects of higher interest rates. Falling into high inflation will end up being even more painful.

Rate our article quality:

Your feedback helps us create better content.

See also  G20 countries declare the fight against global warming, but avoid binding commitments - EURACTIV.pl