Fed Reserve expected to announce fourth consecutive interest rate hike

The US Federal Reserve is expected Wednesday to announce its fourth consecutive 0.75% interest rate hike since June, Reuters reports. Numerous economists polled by Reuters have said the Fed should not pause until inflation falls to around half its current level.

IMF: “worst is yet to come” in global economy

The International Monetary Fund (IMF) has forecast the “worst is yet to come” economically as it predicts a third of the global economy will contract in 2023, facing two consecutive quarters of negative growth, Sky News reports. The IMF made its predictions in its latest World Economic Outlook report.

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