{"id":49753,"date":"2023-07-21T10:59:16","date_gmt":"2023-07-21T10:59:16","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/adb-cuts-inflation-forecast"},"modified":"2023-07-21T11:09:07","modified_gmt":"2023-07-21T11:09:07","slug":"adb-cuts-inflation-forecast","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/adb-cuts-inflation-forecast","title":{"rendered":"ADB cuts inflation forecast"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>The Asian Development Bank cut its inflation forecast for developing Asia on Wednesday, as food and fuel prices eased, supply chain disruptions waned and interest rate hikes started to bite.<\/p>\n

Inflation, which has squeezed household budgets and left millions of poor households struggling to put food on the table, is heading back towards pre-Covid levels, the Philippines-based lender said.<\/p>\n

It expects inflation of 3.6% this year, compared with its forecast in April of 4.2% as prices in China ease sharply, the bank said in its flagship outlook report.<\/p>\n

Developing Asia refers to the multilateral lender\u2019s 46 emerging member economies, stretching from Kazakhstan in Central Asia to the Cook Islands in the Pacific.<\/p>\n

The ADB kept its economic growth forecast of 4.8% for 2023, citing robust consumption, travel and investment, even as global demand for the regions\u2019 exports weakened.<\/p>\n

Further upside to its forecast was possible, the bank said.<\/p>\n

\u201cIf inflation is tamed more quickly than currently expected in the advanced economies, the authorities there would likely adopt a more dovish monetary policy, which would support growth in the region,\u201d ADB said.<\/p>\n

At the same time, the lender warned an escalation in Russia\u2019s invasion of Ukraine could fuel price hikes, while the return of the El Nino weather phenomenon this year could hurt economies.<\/p>\n

The tide was also turning on interest rates, the bank noted.<\/p>\n

\u201cWith lower inflation in developing Asia and more moderate monetary tightening in the United States, most central banks in the region have kept policy rates steady this year, with signs emerging of a shift toward easier money,\u201d it said.<\/p>\n

China, the world\u2019s second-largest economy, is still expected to grow at five percent this year and 4.5% in 2024, the bank said, citing supportive monetary and fiscal policies.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. The Asian Development Bank cut its inflation forecast for developing Asia on Wednesday, as food and fuel prices eased, supply chain disruptions waned and interest rate hikes started to bite. Inflation, which has squeezed household budgets and left millions of poor households struggling to put food on the table, is heading back […]<\/p>\n","protected":false},"author":84,"featured_media":49752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-49753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nADB cuts inflation forecast - Namibia<\/title>\n<meta name=\"description\" content=\"The Asian Development Bank cut its inflation forecast for developing Asia on Wednesday, as food and fuel prices eased, s ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/adb-cuts-inflation-forecast\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADB cuts inflation forecast\" \/>\n<meta property=\"og:description\" content=\"The Asian Development Bank cut its inflation forecast for developing Asia on Wednesday, as food and fuel prices eased, s ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/adb-cuts-inflation-forecast\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-21T10:59:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-21T11:09:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/07\/sm_1689925094.025561.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/adb-cuts-inflation-forecast#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/adb-cuts-inflation-forecast\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"ADB cuts inflation forecast\",\"datePublished\":\"2023-07-21T10:59:16+00:00\",\"dateModified\":\"2023-07-21T11:09:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/adb-cuts-inflation-forecast\"},\"wordCount\":303,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/adb-cuts-inflation-forecast#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/07\/sm_1689925094.025561.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/adb-cuts-inflation-forecast#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/adb-cuts-inflation-forecast\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/adb-cuts-inflation-forecast\",\"name\":\"ADB cuts inflation forecast - 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