Global Economy

Governor Macklem said the "Governing Council’s discussion of monetary policy is shifting from whether our policy rate is restrictive enough to restore price stability, to how long it needs to stay at the current level"

Core PCE inflation rose 4.7% in January YoY, beating expectation of 4.4% increase. The Fed-preferred price index rose 0.6% MoM compared to the market expectation of 0.5%.

Bank of England's Fan charts would probably be replaced by "alternative scenario" projections, which illustrate how policy might react under different economic developments.

Employers in the US added 339,000 jobs in May, but at the same time 440,000 more people reported they were unemployed

The headline CPI figure slowed down to 8.7% in April, from 10.1% in March, while core inflation accelerated to 6.8%, from 6.2%

US PCE price index decelerated further in March with the year over year rate dropped to merely 4.2%, down from 5.1% in February.

Bank of England on Thursday decided to raise its benchmark interest rate by 0.5% to 5%, larger than the market expectation of a 0.25% increase. The decision followed Office of Nation Statistics' publication of a 8.7% CPI inflation reading for the year to May on Wednesday.

UK average property prices were 3.4% lower compared to the previous year, accelerating the annual fall of 2.7% in April.

Bank of Canada held its overnight rate at 5% after its March monetary policy meeting, citing "risks to the outlook for inflation, particularly the persistence in underlying inflation."

Bank of England will conduct a system-wide exploratory scenario (SWES) exercise on the UK financial markets to see how well both banks and non-bank financial institutions can handle stress market conditions.