Global Economy

"Russian oil will no longer be acceptable at US ports," President Biden said.

The financial market expecting the UK policy interest rate UK will break 4% by May, more than double the current level of 1.75%. Financial Times reported.

EU’s Single Resolution Board has enforced payment moratorium on three European subsidiaries of Russian bank Sberbank, which is under US-led sanction, and is accessing whether any resolution action would be need to to protect public interest.

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.

Non-farm payroll booked an increase of 236,000 in March, a further deceleration from February's 326,000, which was revised upward from the preliminary figure of 311,000, according to the Bureau of Labor Statistics' establishment survey.

Inflation projections by Fed officials show that PCE inflation will not reach 2% by the end of 2025. Why the Fed expects to cut rate next year then?

Post-covid trend of the economic inactivity in the UK

Consumer price index grew for March 5% over the past year, reaching the lowest level since May 2021. Nonetheless, Core CPI recorded a 5.6% increase, up from 5.5% in February.

Core CPI inflation continues to decelerate to 3.93%

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%.