Rate hikes by central banks threaten a global recession in 2023.
Central banks are trying to drive the world economy into a recession.
The Federal Reserve and other major global institutions have acknowledged the growing trend of inflation.
But insist on taking action to stop price increases even if this slows economic growth.
This year, about 90 central banks have raised interest rates.
While half of them hike their rates by at least 75 basis points in one shot.
Many people increased their borrowing multiple times to get the interest rates they wanted.
This has led to the current tightening of monetary policy.
The big central banks are expected to raise rates again in the coming quarter, and this trend won't stop there.
This week, the Federal Reserve is expected to raise its key interest rate by 75 basis points for the third time.
Following inflation, that reached 8% in August.
The Bank of England is expected to raise interest rates by 50 basis points, with similar hikes expected in other countries.