Asian Spectator

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Global economy 2023: Why central banks face an epic battle against inflation amid political obstacles

  • Written by Steve Schifferes, Honorary Research Fellow, City Political Economy Research Centre, City, University of London
Global economy 2023: Why central banks face an epic battle against inflation amid political obstaclesThis could get ugly. Shutterstock/Nataletado

Where is the global economy heading in 2023? After all the challenges of last year, it’s a question we ask with trepidation. Just as the economy was dealing with the ongoing effects of the COVID-19 pandemic, Russia’s invasion of Ukraine in February ramped up inflation.

Significant rises in the...

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