24 January 2023
Chris Scicluna
,
Emily Nicol
- The BoJ’s estimates of underlying price pressures suggested a further broadening at the end of last year
- Germany’s GfK survey suggested consumers were more optimistic about the outlook
- French flash PMIs reported improvement in manufacturing but slight softening in services, but French INSEE survey reported a deterioration in wholesale trade and construction conditions
- In the UK, public finance figures reported record borrowing in December
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23 January 2023
Chris Scicluna
,
Emily Nicol
- Hawkish commentary from ECB policymakers continued, with Dutch National Bank Governor Klaas Knot again signalling his desire for two ECB 50bps hikes this quarter
- Flash PMIs the week's data highlights in the euro area and UK
- First estimate of US Q4 GDP (Thursday) is expected to report respectable growth; December’s PCE deflators and spending figures also due (Friday)
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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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