Other news

Jerome Powell, Chairman of the US Federal Reserve (Fed), is likely to confirm market expectations. Reports suggest that monetary tightening is expected to slow down.

According to forecasts, inflation in the euro zone won’t change significantly, still remaining above 10%.

Over the past week, gold fell to $1,750 an ounce before recovering back to where it started.

Governor's assistant Karen Silk said that New Zealand's central bank did not expect such strong inflation.

Governor of the Reserve Bank of Australia Philip Lowe noted that Australia had a better chance of achieving a ‘‘soft landing’’ than almost any other developed country. Australia benefits from the fact that Australian wage growth is running at a weaker pace than peers.

Iraq, the second biggest oil producer of OPEC, is about to increase its oil exports from the country’s southern ports in the following year.

During the interview for Sunday Independent newspaper, Gabriel Makhlouf, head of the CB of Ireland and governing council member of the European central bank, said the pace of interest rate hike in the Eurozone will probably slow down in 2023.

At the end of the previous week, President of Mexico Andres Manuel Lopez Obrador, while marking his fourth year in office, announced that the country’s economy should grow by at least 3.5% in 2022, as well as in 2023 and 2024.

According to investors, stagflation will pose a key threat to the global economy in the coming year. They also believe that after this year's sell-off, it is too early to expect a rally in the markets.

Prime Minister of Japan Fumio Kishida on Monday rejected a proposal to add salary increase among the new monetary policy targets that the government and central bank must pursue to support a fragile state of the economy.