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Energy guru Yergin deems interest rate changes key in 2023

'Year of central bankers' to come amid war, energy crisis, China concerns

Daniel Yergin, vice chairman of S&P Global, is known as a leading authority on energy markets. (Source photo by Reuters) 

TOKYO -- 2023 will be the "year of central bankers," according to Daniel Yergin, vice chairman of S&P Global and a leading authority on energy markets. And the timing of their decisions to adjust interest rates will be the "key thing to watch" in forecasting energy prices, given the uncertainty over the prolonged war in Ukraine, the energy crisis and China.

The year 2022 was full of surprises, with Russia invading Ukraine and disruptions to the global energy supply. Yergin said he expects that markets will "continue to be volatile," adding, "it's so uncertain what will happen, [with the] Ukraine war, and what the consequences would be, because Putin is determined to win and the West is determined that he will not win."

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