World Bank lowers 2022 global GDP forecast to 2.9% from 4.1%

• Risks of stagflation, Ukraine war and China lockdowns hitting growth
• Recession will be hard to avoid for many countries
• Global inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term expected to moderate next year but will likely remain above targets in many economies
• Growth in advanced countries to decelerate to 2.6% in 2022 vs 3.8% in January forecast
• EM growth to slow to 3.4% from 6.6% in 2021
• Russian economy to contract by 8.9%
• If downside risks materialize, global growth could fall 2.1% in 2022 and 1.5% in 2023
• Says it's crucial that countries avoid export and import restrictions that magnify rising prices and distort markets
• Sees 'real threat' of fast tightening of financial conditions pushing countries into the kind of debt seen in the 1980s

This is a sign of which way the wind is blowing. All the recession talk sometimes has a way of manifesting itself as well.