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ECB to note marked deterioration in outlook for inflation and growth

Chris Scicluna
Emily Nicol
  • Beyond events in Ukraine, the ECB’s policy announcement is key for European markets today.
  • The main data event today is the US CPI report for February, with another sizeable increase in prices on the month set to push the annual headline rate closer to 8%.
  • Japanese PPI beats expectations, rising to 40-year high.
  • UK surveys signal ongoing significant tightness of labour and residential property markets.

 

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German industrial production surges in January

Chris Scicluna
Emily Nicol
  • Japanese economy watchers remain downbeat about current conditions.
  • UK retail sales survey points to ongoing growth in February.
  • Small business sentiment and external trade the data focus today in the US.

 

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BoJ consumption activity index points to sharp decline in spending on services

Chris Scicluna
Emily Nicol
  • ECB policy announcements the main economic event from the major economies this week.
  • US CPI inflation data (Thursday) set to highlight continued broad-based price pressures.
  • German factory orders were stronger at the start of the year, and survey data this week will give an indication of euro area investor sentiment since the Russian invasion.
  • UK GDP data for January due at the end of the week.

 

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Japan's unemployment rises

Chris Scicluna
Emily Nicol
  • Japanese unemployment rose at the start of the year as the latest wave of pandemic saw a sharp drop in the number of people in employment.
  • German trade flows weaker but French IP rebounds at the start of the year.
  • UK car registrations to remain subdued.
  • US labour market report the data highlight today.

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ECB policy meeting account superseded by events in Ukraine

Chris Scicluna
Emily Nicol
  • Japanese consumers more downbeat as concerns over prices rise, but services survey suggests firms in the sector continue largely to absorb cost pressures.
  • Euro area PPI inflation to hit record high, but unemployment rate to fall to series low.
  • UK services PMIs and BoE survey data due, with the latter to highlight firms’ high wage and price expectations for the coming year.

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