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There is a possibility of recession in the whole world next year. A third of those surveyed by Russell Investments Fixed Income said a recession could happen by next year. 27 percent believe that the whole world may face recession in 2024. 28 percent of the people surveyed said, this is possible only after 2024. Two-thirds of fund managers expect US core inflation to remain at 3.4-5% over the next one year, much higher than the central bank’s 2 per cent range here. Gerard Fitzpatrick, head of fixed income at Russell Investments, said, “There is a risk of recession, but there are differing views on timing.”
IMF also expressed apprehension
International Monetary Fund (IMF) chief Kristalina Georgieva has said that the possibility of a possible global recession next year cannot be ruled out. The risk of recession for all the world’s economies has deepened after April. In the coming weeks, the IMF may bring down the growth forecast of the world economy to 3.6 percent for the third time.
58 percent accepted high inflation and weak growth
In the survey, 58 percent of the people said that their concern is about high inflation and weak growth rate. The risks have also increased in recent weeks. For this bond investors are preparing for a sharp recession. On the other hand, there has been a sharp rise in crude oil prices for the last two days and it has gone beyond $100.
Crude oil price may go up to $ 65
Amid fears of recession, the price of crude oil has come down drastically in recent times. Foreign brokerage firm Citi has claimed that crude oil prices may fall to $ 65 a barrel by the end of this year. Citi claims that crude oil prices may fall next year as well. It can go up to $45 by the end of 2023.