12 May 2023

ING Monthly: We’re in a polycrisis, and this is what it means

The word of the moment appears to be 'polycrisis', defined by Collins as the simultaneous occurrence of several catastrophic events. It's apt, given the war in Ukraine, inflation, the pandemic... you know it. Europe's been at the epicentre of most of it. Now it seems a US variant is in the making

Executive summary

There appears to be no respite from seemingly never-ending economic crises and concern. The banking crisis in the US is far from over, and even if regulators have been very efficient in ringfencing failing institutions up to now, we all know the adage that 'past performance is no guarantee of future success', and it's rarely been so true for financial markets right now

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