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5/26, 11:18 AM (Source: TeleTrader)
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Moody’s lowers global growth forecast for 2022

Moody's Investors Service lowered on Thursday its expectations for global economic growth this year, citing the Russia-Ukraine war as well as coronavirus-related lockdowns in China as the main challenges.

Moody's warned that soaring inflation rates could continue in the upcoming months mainly due to rapidly rising prices of energy and food products. While advanced economies are expected to expand around 2.6% in 2022, Moody's said it doesn't expect any G-20 country to see a recession except for Russia.

However, the forecast could worsen if the war in Ukraine escalates and if China's economy sees a higher-than-expected activity slowdown, the agency concluded.

Baha Breaking News (BBN) / ND