WTO 'trade plunge' IMF 'economic slowdown' Fed's '1.25% rate hike'

The World Trade Organization (WTO) announces a sharp decline in world trade next year, the IMF predicts an economic slowdown next year, and the US Federal Reserve Board announces a 1.25% interest rate hike.
International Monetary Fund (IMF) Executive Director Georgieva said in a speech at Georgetown University on the 6th that "the economic situation has changed significantly. Inflation is not temporary, but it is sustainable."

In a parliamentary audit on the 7th, Lee Chang-yong, governor of the Bank of Korea, said, "No one really thinks that Korea's foreign exchange reserves are small in the IMF. ' he replied.

The World Trade Organization (WTO) said on the 6th that "total exports and imports of goods will increase by only 1% in 2023, much lower than the previous forecast of 3.4% for next year and 3.5% for this year."

The World Trade Organization (WTO) said on the 6th that "total exports and imports of goods will increase by only 1% in 2023, much lower than the previous forecast of 3.4% for next year and 3.5% for this year."
“World commodity trade is expected to slow sharply next year under the weight of high energy prices, rising interest rates and war-related turmoil, raising the risk of a global recession, according to new forecasts,” the Wall Street Journal reported. The outlook was revised today.
Georgieva, managing director of the International Monetary Fund (IMF), said in a speech that the global economic outlook to be announced early next week is "planned to lower growth next year" and "it is important to act decisively even when the economy is inevitably slowing to contain inflation" said.
The International Monetary Fund (IMF) previously announced in July that global growth would be 3.2% in 2022 and 2.9% in 2023.
Chicago Fed President Charles Evans said on Monday that the US central bank's policy rate is likely to move towards 4.5%-4.75% by the spring of 2023 as the Fed raises borrowing costs to keep inflation down, Reuters reported. reported
"Inflation is currently high and we need a more restrictive setting of monetary policy," Evans said at the Chicago Chamber of Commerce meeting. "We expect to raise the policy rate by another 1.25 percentage points, and the inflation figures are disappointing," he said.
Georgieva said, “The IMF expects global production to decline by about $4 trillion between now and 2026. "This is a huge setback to the size of Germany's economy," he said.
“The economies of countries that make up about a third of the world economy this year or next year are expected to retreat for at least two quarters in a row,” he said.

President Lee said at the National Assembly on the 7th that the peak of the inflation rate is expected to peak around October, but there is a high possibility that the inflation rate will not come down quickly until the first half of next year.

At a press conference on the 6th, Deputy Prime Minister Choo Kyung-ho said, “There is no change in the ‘October price point’.

The Bank of Korea's current account deficit in August was $3.05 billion, a deficit system since the 2008 financial crisis.