IMF cuts 2023 global growth forecast to 2.7% as rate hikes bite

'The worst is yet to come, and for many people 2023 will feel like a recession,' report says

KOSUKE TAKAMI, Nikkei staff writer

WASHINGTON -- The International Monetary Fund on Tuesday downgraded its global growth forecast for 2023 to 2.7% as the world's largest economies continue to sputter amid widespread rate hikes aimed at reining in inflation.

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