The intensification of talks to end the war in Ukraine signals cautious progress, but Russia and Ukraine remain far apart in their key demands. And Russia’s recalcitrance has become increasingly clear in the last few days. As a result, a peace deal still looks far away. Elsewhere, the Bank of Israel left its policy rate on hold again at 4.50% this week and continued to highlight concerns about inflation risks. The start of Israel’s new offensive in Gaza this week suggests that inflation and geopolitical risks won’t go away soon, but we still think that a cautious monetary easing cycle may begin in November.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.