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MPC press release
MPC Press Release – October 2022
Global economic conditions remain challenging. Global growth is slowing more than anticipated, and financing conditions have tightened some more since the August MPC Emergency Meeting, reflecting further synchronous tightening of monetary policy rates across Advanced Economies and Emerging Markets. The Russia-Ukraine war has persisted, dragging down growth and putting additional upward pressure on prices, especially for food and energy with economic and social spillovers.