Time for reforms

The government needs to come up with a four-year comprehensive plan as to how it wants to reform. — Bloomberg

LAST week, an analysis of the global economy for the second half of 2023 (2H23) was presented with the view that rate hikes are still prevalent among major central banks, thanks largely to the persistently high and sticky core inflation rate.

While the US economy may enter into a recession in 2H23, the likelihood of it being short and shallow is rather certain, mainly driven by strong consumer sentiment and a robust labour market.