{"id":73424,"date":"2023-12-14T08:12:27","date_gmt":"2023-12-14T08:12:27","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=73424"},"modified":"2023-12-14T08:12:27","modified_gmt":"2023-12-14T08:12:27","slug":"the-worlds-central-banks-are-desperate-for-a-recession-and-are-going-to-hold-out-until-they-get-one","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/12\/14\/the-worlds-central-banks-are-desperate-for-a-recession-and-are-going-to-hold-out-until-they-get-one\/","title":{"rendered":"The world&#8217;s central banks are desperate for a recession and are going to hold out until they get one"},"content":{"rendered":"<p>As the <a href=\"https:\/\/www.ft.com\/content\/ff1f4787-57fb-4187-a215-5a32c55deeed\" target=\"_blank\" rel=\"noopener noreferrer\">FT reported<\/a> in yesterday's Federal Reserve decision on interest rates in the USA:<\/p>\n<blockquote><p>The Fed held interest rates at a 22-year high, but the decision came alongside new forecasts from central bank officials pointing to 75 basis points worth of cuts next year \u2014 a more dovish outlook for rates than in previous projections.<\/p><\/blockquote>\n<p>75 basis points is 0.75% in lay terms. That would mean that US rates would fall to a range between 4.5% and 4.75% next year.<\/p>\n<p>That is better news than there being no planned rate cuts.<\/p>\n<p>But as we also know, US inflation is now heading for target rates, and is only just over 3% now. Despite that, the oppressive interest rates are going to be maintained.<\/p>\n<p>It still looks as if the world's central banks are desperate for a recession and are going to hold out until they get one.<\/p>\n<p>Expect much the same from the Bank of England when they make their decision on rates. Limping us lamely to economic catastrophe is their style, after all.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the FT reported in yesterday&#8217;s Federal Reserve decision on interest rates in the USA: The Fed held interest rates at a 22-year high, but<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/12\/14\/the-worlds-central-banks-are-desperate-for-a-recession-and-are-going-to-hold-out-until-they-get-one\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-73424","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/73424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=73424"}],"version-history":[{"count":1,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/73424\/revisions"}],"predecessor-version":[{"id":73425,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/73424\/revisions\/73425"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=73424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=73424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=73424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}