Geopolitical Crisis Sentiment. The focus of attention last week was still on the war in Ukraine, where western countries again added to sanctions by removing several large Russian banks from the SWIFT network. The continuation of this geopolitical crisis also triggered a spike in oil prices above the USD 100/barrel level for the first time since 2014. From domestic economic data, the Central Statistics Agency (BPS) recorded a deflation of 0.02% throughout February 2022, so that annual inflation is in a position 2.06%.

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