Many of the world’s leading economies will fall into a recession within the next 12 months, according to the chief economist at brokerage firm Nomura holdings.
has indicated there could be another hike of 50 or 75 basis points in July.
"We have the Fed hiking 75 [basis points] in July and then 50 at the next meeting," the economist said, outlining Nomura's predictions."Then a series of 25 [basis points] until it gets the Fed funds rate at 3.75% by February next year."In the research note, Nomura underlined several mid-sized economies — including Australia, Canada and South Korea — that have had debt-fueled housing booms.
"If central banks do not tighten monetary policy to get inflation down now, the pain to the economy of moving to a high inflation regime" and getting stuck there is far greater, warned Subbaraman.
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