A year of ups and downs

THE year 2022 was one of volatility for markets around the world due to rising interest rates, persistently high inflation and geopolitical tensions.

In a bid to curb inflation, central banks around the world have been tightening their monetary policies by raising borrowing costs. However, this led to concerns of a possible global recession.

A war that broke out in Ukraine also worsened supply chain conditions around the world and drove up energy and food prices.