Global Economy

Core CPI: 3.86% YoY (Dec: 3.93%) | 0.39% MoM (0.28%)

Ahead of Jay Powell's keynote speech in Jackson Hole on Friday, two Fed officials said more rate hikes are still warranted, but they said it's too early to decide on the size rate increase yet.

G20's economic officials will gather in India next week to discuss ways to boost lending to developing countries from multilateral institutions and to reform the international debt system, Reuters cited unnamed Indian officials.

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%.

The UK CPI rose 10.1% in the year to March, still remain in double digits even though analysts expected the annual rate to fall to 9.8%

Post-covid trend of the economic inactivity in the UK

Inflation in the US showed further signs of easing as the yearly growth of core PCE price index slowed to 4.6% in February, while the headline number increased by 5%.

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.

Luis de Guindos, vice president of the European Central Bank, depicted the coronavirus as an additional " layer of uncertainty to global and euro area growth prospects,"

The latest Purchasing Manager Index (PMI) for the two largest economies, Germany and France, is showing a clear sign of looming recession.