Moody's cuts global growth forecast to 2.7% from 4.2% for 2022

Global credit rating agency Moody's Investors Service on Monday cut its global economic growth forecast to 2.7% for 2022 from the 4.2% estimated earlier in January. Further, the agency has forecast global growth to slow down to 2.3% for 2023. Stagflation risks have risen worldwide, but a stagflationary environment would take months to be realised, it said in a report.