The Conflict between Israel and Gaza: An Unnecessary Global Economic Shock and its Impact on Central Banks

The conflict between Israel and Gaza is an unnecessary global economic shock and will make it difficult for central banks to achieve a smooth reduction in inflation in many economies if it spreads, World Bank President Ajay Banga said on Tuesday.

“It is a human tragedy and an economic shock that we do not want,” he told Reuters on the sidelines of the annual meetings of the World Bank and the International Monetary Fund in Morocco.

Banga added that central banks had “begun to feel some confidence that there is an opportunity to achieve a soft reduction in inflation, and this (conflict) will make it more difficult.”

2023-10-10 14:59:13
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