Rabinovitch: War increases the risks of stagla by which i'm referring to the idea of growth getting much slower, at the same time as already high inflation gets even higher. The primary mechanism by which this is happening has been the shock to global commodity markets where oil prices shot up quite dramatically. Nobody's forecasting staglation this year. But it presents a pretty stiff head wind to growth.
Russia’s invasion of Ukraine has pushed global prices, which were already climbing, even higher. As America’s central bank raises its target interest rate for the first time in four years, we break down the challenges facing central bankers. In the fourth instalment of our French election series, we look at how the conflict has changed the race. And Russia’s seizure of the Chernobyl nuclear plant ends three decades of scientific research.
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