Fears super-sized interest rate hikes to cool inflation will tip economy into recession | ABC News

There are growing calls for central banks to slow down and co-ordinate their rate hikes so they don’t overcook it and send the world into deep recession.
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The Bank of Canada has shocked economists with a 100 basis point rise in one go.
Bets are the US Federal Reserve will follow suit next week in response to inflation hitting 9.1 per cent.
Former IMF chief economist Maurice Obstfeld, now professor of economics at Berkeley, says he’s concerned the Fed and other central banks will over-react to inflation.

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