Jim Power: 2023 was strange overall, but 2024 could be even stranger

In the final quarter of the year, central banks started to believe they had reached the peak of the interest rate tightening cycle. Picture: AP/Michael Probst

I think it would be safe to ascribe the term Vuca to the global and domestic economy in 2023. It stands for volatility, uncertainty, complexity, and ambiguity. 

These are all terms that could certainly describe the year just past, but apart from these descriptions, it was a depressing one in many respects.