Headline CPI inflation rates have started to show signs of cooling in recent months in many economies but central banks continue to raise interest rates amid fears of persistent underlying inflationary pressures, as highlighted in Fitch’s latest ‘20/20 Vision’ chart pack. GDP growth exceeded expectations in 4Q22 among many of Fitch 20 countries, including some of the world’s major economies. The US posted a 0.7% quarterly non-annualised outturn, while the eurozone narrowly averted contraction and grew 0.1% qoq as the energy crisis turned out to be milder than previously feared. China and the UK both recorded flat GDP ... (full story)