The West is on the verge of the worst economic crisis since 1949.

Bloomberg reported that Western central banks raising interest rates in an attempt to curb inflation have pushed bond markets to the brink of their worst performance in 73 years.

Bank of America experts said sovereign bond markets around the world are on the brink of their worst performance since 1949, when Europe was in ruins recovering from World War II.

According to the newspaper, the US Federal Reserve and other Western central banks have stopped keeping their benchmark interest rate near zero to support the economy, as they did during the coronavirus pandemic, and the reversal has had a significant impact.

She noted that the increase in the base interest rate in the United States was another serious blow to the global economy.

And earlier, the US Federal Reserve decided to raise the interest rate by 75 basis points, to 3.25%, after it was 2.5%.

Source: RIA Novosti

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