Thursday 17th February 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9There are no signs of inflation abating just yet, or of Vladimir Putin pulling his troops from the Ukraine border. That means there’s more caution in the markets. On today’s Morning Call NAB’s David de Garis talks through the likely market response if Russia does invade and Biden responds with sanctions. Meanwhile, inflation is creating enough of a concern for everyone, with CPI up in the UK, South Africa and Canada, with rising US retail sales adding to the pressure in the US. In Europe a couple of ECB members are starting to get nervous about house prices. Only in China do they seem to have inflation under control, and the potential for more easing by the central bank. Whilst in Australia the Labour Market data will be the main focus this morning.

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