The main focus in developed markets next week will be US CPI data for March, which we expect will still be running too hot for a return to the key 2% target. Meanwhile, GDP data takes the spotlight in the UK, and we expect to see signs pointing to a first-quarter rebound.
The main focus in developed markets next week will be US CPI data for March, which we expect will still be running too hot for a return to the key 2% target. Meanwhile, GDP data takes the spotlight in the UK, and we expect to see signs pointing to a first-quarter rebound. US: Core CPI print to be 0.3% MoM The highlight over the week ahead in the US will be March consumer price inflation data.
This has been running consistently hot in recent months, with housing components remaining particularly sticky while sharply higher insurance costs and portfolio management fees have been contributing to elevated supercore readings. We expect the core CPI print to be 0.3% month-on-month versus 0.4% in February – but this is still around double the 0.17% MoM rate that would, over 12 months, bring the YoY rate down to the 2% target. There still remains a lot of uncertainty, thoug
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