US GDP
According to the US Bureau of Economic Analysis, US GDP Advance for the fourth quarter of 2022 expanded by 2.9%,
According to the US Bureau of Economic Analysis, US GDP Advance for the fourth quarter of 2022 expanded by 2.9%,
After Thursday’s US consumer price index (CPI) reading, the lowest recorded in a year, investors increased their bets that the Federal Reserve will reduce its rate hike from 50 basis points in December to 25 basis points at its next meeting on February 1, 2023.
On the macro front, this week’s main focus is on US inflation, the last Consumer Price Index data before the first Federal Reserve meeting of 2023 on January 31-February 1. Prior the release of the data, Fed members Mary Daly and Raphael Bostic stated on Monday on separate events that they expect an interest rate …
December data CPI for Germany and France showed a slowing YoY inflation pace.
Quick overview of the 2023 meeting schedule of some of the well-known central banks (Federal Reserve, European Central Bank, Bank of England and Bank of Japan).
The Federal Reserve announced a 50 basis points rate increase yesterday at its December meeting to tame inflation. This half a percentage point rate hike was highly expected by the markets.
Today’s focus on the macro front is on the euro area inflation data. Inflation remains well above the ECB’s 2% target.
Recent macroeconomic reports show that US inflation could be slowing. Hopes that the Federal Reserve may be less aggressive in its December meeting are growing.
Both the US headline and core inflation data increased less than expected by economists. According to the US Bureau of Labor Statistics, the CPI slowed to 7.7% year-over-year in October 2022.
The Federal Reserve raised the funds rate by 75 basis points in its November 2022 meeting. This quarter-point hike was highly expected and brought the Fed’s benchmark to a target range of 3.75% – 4.00%.