The only constant in life is change
Welcome to the 2023 Luna Outlook document, our annual commentary where we look at what to expect from the economy and markets in the next 12 months. We always try to start with a quote at the outset which encapsulates our views on the year ahead and for 2023 we have decided to delve into Greek philosophy; “The Only Constant in Life is Change” Heraclitus.
2022 was a year which witnessed strict Covid policies in China, a war within European borders which contributed to soaring inflation and central bankers being behind the curve which forced interest rates and the cost of borrowing higher.
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