According to most recent data, the world economy grew by 3.1 per cent in 2022. To many, the rebound suggested that a soft landing was possible in 2023, and that the key problems of the year 2022 – rising prices, supply-chain disruptions and recession risks – have been addressed. As a result, the very first months of 2023 were viewed with optimism by decision-makers, as it appeared that the anti-inflationary stance of the central banks had set a path to price stabilization without causing a major disruption to growth.