ECONOMY | 03.02.2022
The stress on energy prices doesn’t seem to have ended just yet. Taking this and other global risks into account, the Economic and Industry Outlook 2022 report envisages that the economic recovery could follow one of two distinct paths – either a baseline or a stressed scenario.
The downward revision of growth forecasts for this year seems to indicate that we are facing a stressed scenario, not only because of current risks but also because of the effect of the pandemic which, according to an interview with Gonzalo de Cadenas-Santiago in Spanish newspaper El Confidencial, will last until at least next year.
Both the ECB and the Federal Reserve face a year in which they will have to begin to do an about-face on numerous decisions taken since the onset of the pandemic, which have served as a buttress against many risks that are still very much present.
European stocks seem to have started the year better than their American counterparts, and one of the reasons points to Big Tech. But why? Alberto Matellán, chief economist at MAPFRE Inversión, looks into what’s driving the widespread falls in this sector.
Analysts believe that this will be one of the most complicated years to manage. Given the difficulty of operating in the stock markets due to the current risks and uncertainty, Daniel Sancho believes that central banks will have to move “like tightrope walkers”.