20 January 2023
Chris Scicluna
,
Emily Nicol
- Japanese inflation rose in December to 4%Y/Y, the highest since 1991 and double the BoJ’s 2% target
- German PPI inflation fell sharply again in December
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19 January 2023
Chris Scicluna
,
Emily Nicol
- RICS survey pointed to significant negative momentum in the UK residential property market
- As ECB hawk Klass Knot called for “multiple 50bps hikes”, focus in the euro area will be on the ECB account from the December policy-setting meeting
- US housing starts are expected to have fallen in December
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18 January 2023
Chris Scicluna
,
Emily Nicol
- Japanese machine orders fell sharply in November
- UK inflation fell for a second successive month in December, but core CPI remains sticky
- Final euro area inflation figures likely to confirm a drop in the headline rate in December
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17 January 2023
Chris Scicluna
,
Emily Nicol
- Despite exceeding expectations, Chinese GDP stalled at the end of 2022 amid ongoing Covid-disruption
- Japanese tertiary activity slips back in November, despite a boost from the government’s travel incentive scheme
- ECB Chief Economist flags need for further tightening, but ready to pivot if the inflation outlook shifts
- US Empire Manufacturing survey expected to report a softer pace of contraction in January
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16 January 2023
Chris Scicluna
,
Emily Nicol
- All eyes on the BoJ’s monetary policy announcement on Wednesday; given ongoing JGB market dysfunction, a further adjustment to the YCC framework cannot be ruled out
- In the euro area, Thursday’s release of the ECB account from the December meeting will be watched closely
- UK labour market and CPI data a key focus for the BoE this week, with headline inflation likely to have fallen sharply
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