Bundles

3 March 2022

ING Monthly: The Russia-Ukraine crisis forces a global reassessment

In our March update, we reassess our economic and market forecasts to reflect the impact of the war in Ukraine and look at how central banks are likely to respond to the prospect of weaker growth and surging inflation in Europe

In this bundle

The global implications of Ukraine’s tragedy

Given the horrendous human tragedy in Ukraine, it seems almost crass to talk about global economic implications right now. But that's our job. The…

At a glance: The world right now

How the war in Ukraine has changed our core views and forecasts

Central banks to continue tightening despite rising uncertainty

We expect six rate hikes from the Federal Reserve this year amid rising inflation and a solid domestic backdrop. The European Central Bank is set to keep…

, and

Russian supply risk upends the oil market

Commodities, Food & Agri

Energy

Russian supply risk upends the oil market

Russia’s invasion of Ukraine and the sanctions which followed have led to a significant change in the oil outlook. Whilst current sanctions are not…

United States

US economy remains resilient, but there are risks ahead

The US economy shrugged off the effects of Omicron and should be relatively resilient to the headwinds caused by Russia’s military aggression in…

Stagflation risk increases in the eurozone

The war in Ukraine could dampen the pace of the recovery in the eurozone, while inflation is likely to be close to 4% for the year. The European Central…

United Kingdom

UK consumer spending set to fall amid cost of living crunch

Inflation is set to stay above 6% for most of 2022, and that means consumer spending will struggle to avoid a downturn later this year. The Bank of…

China

China’s Two Sessions to emphasise economic stability amid heightened geopolitical tensions

China's Two Sessions will be held between 4-5 March. This is a great opportunity for the government to announce supportive economic policies as…

The Asian economies most exposed to the Russia-Ukraine conflict

For a region that really does not need another headwind to economic growth, the relatively good news is that the Russia-Ukraine conflict should not have…

Central and Eastern Europe: Lifted by the kindness of strangers

Hungary

Poland

Romania

Central and Eastern Europe: Lifted by the kindness of strangers

As elsewhere in Europe, Putin's war in Ukraine will hit GDP across Central and Eastern European economies. Yet the unity showed by the region and the…

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FX Markets: Moving to a war footing

War in Europe has understandably taken its toll on currencies in the region and the implementation of Russian sanctions now questions the rouble’s…

Rates

Russia

Ukraine

Rates: Russia priced for default

Reactions to the Ukraine crisis have been quite stark. Russia is effectively in default territory, in part anticipating a forced exodus. Central Europe…

France

French presidential campaign shaken by war in Ukraine

Emmanuel Macron's presidential mandate has been disrupted in its last few weeks by the return of war in Europe. After coronavirus and the social…

Report

ING Monthly: The Russia-Ukraine crisis forces a global reassessment

In our March update, we reassess our economic and market forecasts to reflect the impact of the war in Ukraine and look at how central banks are likely to…

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