The global economic outlook remains clouded by various factors, including China’s policy response to fresh COVID-19 outbreaks (which has led to lockdowns in a range of major population centres), the Russia-Ukraine conflict (and its flow on effects on the supplies of various commodities, including energy) and the ongoing disruptions to supply chains (which could worsen if lockdowns in China persist). Financial and commodity markets were highly volatile in the first half of March, however markets appeared to have greater certainty in the second half, coinciding with policy rate rises by both the US Federal Reserve and ... (full story)