2022 Financial Calendar

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Market Views

The struggle means larger inflation and the potential for more social unrest. A modest improvement in Sino-Russian trade might be offset by the impression of higher imported inflation and weaker net trade. Sanctions on Russia might spook China into diversifying extra of its $5tn in FX reserves, but there’s only a lot it could do if it nonetheless desires a managed change rate. The direct economic impact on the euro-zone of a complete Russian oil embargo would be smaller than many count on. We’ve raised our value forecasts due to doubtless disruptions to Russian provide, rather than the demand outlook.

Khaterine William

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