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previous forecast of 3.9 percent. Regarding monetary policy of central banks worldwide, the US Federal Reserve maintained its tightening stance by raising its policy rate and continuing to reduce its massive
several other central banks in Asia gradually adopted a more accommodative stance in response to the weakening global economy amid looming risks. The US central bank cut its policy rate to 2.00-2.25 percent
recovery coupled with high oil prices since early this year may put more pressure on inflation. Against this backdrop, central banks worldwide are highly likely to adopt a more tightening stance, especially