This morning, it emerged that the U.S. government was considering air strikes on Libya. The crisis in Bahrain persists, with that countries authorities continuing an aggressive crackdown on the population.
All the while, oil prices are starting to creep up again, with prices approaching $100 a barrel.
This matters to a lot of countries, but here are three you may not be thinking of.
Note, if oil prices spike 10%, the spillover into CPI is most felt most in Turkey, Romania, and Ukraine amongst countries in the CEEMEA region (that’s Central Eastern Europe Middle East & Africa).
This isn’t likely to be much of a problem for the Ukraine, but in Turkey, where monetary policy is expected to become more restrictive in the next 12 months according to Morgan Stanley, a spike to CPI could speed up the process.
Photo: Morgan Stanley