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A prolonged war is becoming increasingly likely, and this prospect requires a review of the country's macroeconomic strategy, in particular, the current set of policies based on the reduction of foreign exchange reserves and other temporary measures is becoming increasingly untenable, said a group of nine well-known international and Ukrainian economists.
Barry Eichengreen & Poonam Gupta say that the country's high GDP rate can be maintained only if structural reforms are swiftly implemented.
The biggest story in markets today is a potential rally in stocks after one analyst said indexes may have hit bottom - plus top stock picks.
The idea that inflation will remain in the high single digits and the Fed will continue its tightening cycle is "quite daft," said Barry Eichengreen.
HONG KONG (BLOOMBERG) - China's dominance of global trade provides a path to increase its currency's share in global central bank reserves even if it retains tight capital controls, but Beijing will need to maintain large dollar reserves for that to happen, according to new research. Read more at straitstimes.com.