The global economy was under pressure during the month of March amid the Russia-Ukraine conflict,supply chain disruptions and still-surging inflationary pressures. Global consumers were hindered byelevated consumer prices and economic risk. Oil prices rose over the month to reach, at one point, overUS$123/barrel, their highest level since 2008. Meanwhile, investors searched for safe havens amideconomic risks and rising inflation, which pushed gold prices above US$2,000 early in the month, beforethey pared back.
Under the backdrop of substantial inflationary pressures, which are expected to remain elevated for sometime still, central banks took action to tame the growth in consumer prices. The U.S. Federal ReserveBoard (“Fed”) raised the target range…
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