Wealth Wisdom

In the passing week, local equity benchmarks witnessed a bearish run, amid tensions rise over Russia’s military buildup near Ukraine and the US warning an invasion may be imminent. Also, Minutes of the last meeting of the Federal Reserve showed most policymakers are in favor of faster rate hikes to tackle inflation.

Highlights

• Indian manufacturing sector contracted by 0.1% in Dec’21

• India’s wholesale inflation rose to 12.96% in January

• Russian invasion of Ukraine as imminent—Biden administration

• Euro zone government bond yields rose on looming interest rate hikes

• U.K. consumer price inflation accelerated at the fastest pace in nearly 30 years in January

• Chinese central bank pumped in more funds to support economic growth