Beyond Currency

8th March 2022 - Energy sanctions would hit growth


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"Even before Russia invaded Ukraine, the UK economy was predicted to slow this year as the Bank of England began a programme of interest rate hikes to try to combat rising inflation.
Now fears of a global recession are rising as the price of energy rises again and discussions over a ban on purchase of Russian oil and gas continue.
Yesterday, Boris Johnson spoke of his belief that the UK should continue to buy Russian oil and gas, due mainly to the fact that there was no alternative.
It is hard to reconcile what is happening now in Ukraine with the willingness of G7 nations to continue to trade with such an aggressor.
In talks with Justin Trudeau and Mark Rutte Prime Ministers of Canada and The Netherlands yesterday, Johnson confirmed the country’s commitment to efforts to isolate Russia by use of sanctions while agreeing that greenifying (Rutte’s word) will take some considerable time.
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Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
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