Inflation and recession dominate outlook, increase risk of accidents

Rising prices have dominated the global financial markets this year, pushing central banks to increase interest rates to contain demand.

NEW YORK: Central banks' focus on fighting persistently high inflation could lead to a recession over the next two years and raise the risk of 'financial accidents', U.S. investment firm PIMCO said on Wednesday.

Rising prices have dominated the global financial markets this year, pushing central banks to increase interest rates to contain demand.