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Date: 10 February 2022, 8am GMT / 5pm JST / 7pm AEDT

The emergence of Omicron marks another setback to an otherwise robust global economic recovery. At the same time, there is still scant signs of easing in supply bottlenecks, which are adding to consumer price inflation and raising the prospect of earlier-than-expected interest rate hikes by major central banks. Uncertainties over 2022 economic outlook are further compounded by idiosyncratic risks including, among others, a deteriorating debt crisis of Chinese property developers.