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The Forward View – Global: March 2022
The conflict between Russia and Ukraine has caused a significant spike in energy prices –reflecting the importance of Russia in the production and export of oil, natural gas and coal, and limited additional supply elsewhere. In addition, the conflict triggered a broad decline in equity markets, along with increased volatility in financial markets more generally, with expectations around global monetary policy decisions also shifting lower since mid-February. The duration of the conflict, and the resulting impact on energy prices, is highly uncertain –however it is clear that energy prices will remain elevated in ... (full story)