If oil and natural gas prices remain high, it seems very likely that governments will step in with some fiscal support. The scale of that support is uncertain, but even if energy prices rise much further there are a few reasons to think that it might be smaller than in 2022. Next week, we expect the ECB to leave interest rates unchanged but deliver some tough talk on policymakers' willingness to raise interest rates.
All of our coverage on the Middle East conflict can be found here. You can watch a recording of a Drop-In where we discussed the implications for the global economy here.
At 3pm GMT on Thursday 19th March we will be hosting a 20-minute online Drop-In to discuss the outlook for Bank of England, ECB and Fed policy. (Register here.)
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