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The global economy’s momentum has slowed due to various factors like rising interest rates, the war in Ukraine and geopolitical tensions. The recent Israel-Hamas conflict adds more uncertainty. The IMF predicts global economic growth to be 2.9% in 2024, down from the previous forecast of 3% in July. Not even the breakout year enjoyed by tech stocks has been enough to push past the showdown. However, the global economy remains resilient as central banks raise interest rates cautiously to address inflation without causing a recession.
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