23 March 2022
Chris Scicluna
,
Emily Nicol
- UK Chancellor Sunak expected to offer some modest fiscal giveaways to lessen the impact of rising energy bills.
- BoJ estimates suggest that Japan’s price pressures are broadening.
- Euro area consumer confidence set to fall to its lowest level in more than a year; US new home sales figures to be boosted by prospect of higher mortgage rates.
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21 March 2022
Emily Nicol
- German PPI data confirmed the headline rate at a new series high.
- The flash euro area PMIs will provide an update on business conditions in March and shed some light on the initial impact of the Ukraine war on sentiment.
- UK inflation set to rise significantly higher in February; UK retail sales are also likely to have risen further that month even as consumer confidence fell further.
- Plenty of FOMC members in action this week.
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17 March 2022
Chris Scicluna
,
Emily Nicol
- Despite marked deterioration in the near-term UK inflation outlook and support among several members last month for a larger hike, on balance the BoE’s MPC likely to raise Bank Rate by 25bps.
- Data-wise, Japanese machine orders fall back in January, but still point to modest capex growth for now; euro area car sales remain in reverse as supply constraints persist.
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16 March 2022
Chris Scicluna
,
Emily Nicol
- Today's FOMC announcements seem bound to bring the first Fed rate hike since 2018, with the target range highly likely to be increased by 25bps to 0.25-0.50%.
- Japanese manufacturers were a touch more upbeat about current conditions as supply constraints faced by autos firms eased slightly, but services were net pessimists.
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15 March 2022
Chris Scicluna
,
Emily Nicol
- China’s industrial production, fixed investment and retail sales figures pointed to a much firmer first two months of the year for economic activity; so, the PBoC left its medium-term lending facility rate unchanged today at 2.85%.
- In the euro area, today’s German ZEW investor survey seems bound to record a marked deterioration in sentiment since the Russian invasion as concerns about prices of energy, commodities and supply-chain disruption mounted.
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