Monetary Fund

Key events:       USA – ISM Manufacturing PMI (Dec)   USA – JOLTs Job Openings (Nov)   USA – FOMC Meeting Minutes The classic year-end reviews here and there reminded us of the exceptional nature of the past year: the Russian aggression in Ukraine, the energy and food price shock, serious problems in the labor market, inflation that exceeded the central banks' target rates several times, which led to a tightening of monetary policy on the "whatever it takes" principle, etc.