SOME OF the world’s biggest economies—and their central banks—face a tricky task this year taming inflation via higher interest rates without triggering a recession.
And whether they like it or not, the US Federal Reserve, the Bank of England, and other central banks [including the South African Reserve Bank] are now being thrust into the centre of a political debate that could threaten their independence as well as their ability to act decisively to curb rising prices.
I’ve been following and covering politics and finance for four decades as a reporter, and now as an economics research fellow. I believe there are two key ways that politics may interfere with central bank plans in 2023.
An inflationary challenge
High inflation is perhaps the biggest challenge facing the world economy over the coming year.
Inflation has rapidly accelerated, and is now at or near its highest rate in decades in most developed economies like the US and in Europe, causing living standards to stagnate or decline in many countries. This has particularly hurt the poorest people, who suffer a higher rate of inflation than the general population because they spend more of their income on food and energy.
この記事は Personal Finance の February 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Personal Finance の February 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
'Hack' your money psychology
Spending too much money? Tempted by sales? These money psychology hacks’ can help
Accounting tips for small businesses
It's important to properly manage your business finances
KIDS AND MONEY: FIVE WAYS TO START THE CONVERSATION
WHEN IT comes to teaching young children about the world, parents may feel that some topics—like politics and religion—are too tough to broach.
REDUCE THE PAIN OF DOWNSCALING
Investing in a holiday home as a retiree
THE RISKS INVOLVED IN INVESTING
Finding the balance between eating well and sleeping well
TESLA: WHY IT MIGHT BE TIME FOR MUSK TO GO
What 2023 holds for the electric vehicle company
FINDING SOMEONE TO STEP INTO YOUR SHOES
The Eskom crisis demonstrates again the importance of proper succession planning—loDSA
BORROWING MONEY ISN' ALWAYS A BAD THING
On the contrary, debt can be a sensible way to build wealth
WILL SOLAR POWER INCREASE THE VALUE OF YOUR HOME?
The upfront investment is high, which you'll want to recover when you sell
WHERE NEXT FOR THE GLOBAL ECONOMY?
Why central banks face an epic battle against inflation in 2023