World Bank President Ajay Banga said on Thursday that the Israel-Gaza conflict is an unnecessary global economic shock that will make it harder for central...
MARRAKECH, Morocco - World Bank President Ajay Banga said on Thursday that the Israel-Gaza conflict is an unnecessary global economic shock that will make it harder for central banks to achieve soft landings in many economies if it spreads.
Central banks were "beginning to feel a little more confident that there was an opportunity for a soft landing, and this kind of just makes it harder", Banga said.The Russian ruble weakened further as Hamas' deadly attack on Israel caused investors to seek safety in the US dollar.“Everything needed for the front,” Russia’s finance minister declared, echoing a Soviet slogan from World War II as he talked about the government’s latest spending plans.
Strategists warned tight policy will curb economic growth, rattle stocks, and fuel pain for corporations that had grown accustom to easy money.
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