5 stories to read about finance and the economy from 2023

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum.

Author: Joe Myers, Writer, Forum Agenda

• The global economy has had a challenging 2023.
• The economy and finance headlines have varied from banking collapses to the evolving jobs of the future.
• Here are some of the most-read stories on Agenda from this year.

2023 has been an uncertain one for the global economy, as inflation, rising interest rates, tight labour markets and geopolitical shocks have hit forecasts and predictions.

Throughout the year, we’ve released forecasts from our chief economists’ community, held sessions on the global economy at our events, and published our weekly round-up of economics, financial and monetary systems news.

There’s been a lot to follow, but these are some of the most-read Agenda pieces of the year.

Taming inflation with rising rates

Central banks around the world have increased interest rates across 2022 and 2023 to try and tackle inflation, while attempting to balance this with a need to maintain growth.

Our weekly news round-ups have covered these rate rises, and how inflation has changed in economies around the world.

Come the tail end of the year, many central banks have paused rate rises, with the European Central Bank, US Federal Reserve and the Bank of England all holding rates steady in early November.

Many central banks haven’t ruled out further rises next year though, should they be necessary.

Big central banks pause interest rate rises, and other economics news to read this week

https://open.spotify.com/embed/episode/42ltsyJY8Mlau5DWgr7nJK

Collapse of Silicon Valley Bank

In March, Silicon Valley Bank collapsed suddenly, causing concern in US banking markets and beyond.

The bank’s collapse prompted concerns among both customers and investors about the health of other institutions.

We helped explain some of the terminology around banking crises that you might not be familiar with.

Banking crisis: 5 pieces of financial jargon, explained

Central Bank Digital Currencies

Technology is changing many facets of modern life, including the global financial systems.

A lot has been said in that context about central bank digital currencies (CBDCs). We published a series of explainers on CBDCs and what they mean for people and economies.

What are central bank digital currencies and what could they mean for the average person?

Privacy concerns around CBDCs – are they justified?

How are CBDCs different from cryptocurrencies and stablecoins?

Forecasts for the economy

It’s been a volatile and unpredictable year for the global economy, and our September Chief Economists Outlook looked ahead to 2024.

Geopolitical shocks are creating significant uncertainty, but there are positive glimmers, such as reductions in inflation.

Nonetheless, more than 60% of those surveyed said they expect the global economy to weaken in 2024.

Where is the global economy heading in 2024? This is what chief economists think

CENTRE: FINANCIAL AND MONETARY SYSTEMS

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Jobs, growth and opportunities

Some of our most read content this year has been around jobs, in particular in the context of the impact of AI and global economic uncertainty, with tight labour markets in many economies.

It’s also been a hot topic at our events throughout the year – not least during our Growth Summit in May.

And, our Future of Jobs Report highlighted the skills that are needed today, and for the work of tomorrow.

Future of jobs 2023: These are the most in-demand skills now – and beyond