Overseas Headlines – March 18, 2022

United States:

Sales of U.S. Previously Owned Homes Decline to a Six-Month Low

“Sales of previously owned U.S. homes fell in February by more than forecast to a six-month low as a limited supply of properties and high prices deterred potential buyers. Contract closings decreased 7.2% in February from the prior month to an annualized 6.02 million, figures from the National Association of Realtors showed Friday. The median forecast in a Bloomberg survey of economists called for a 6.1 million annualized rate in February. The monthly drop was the biggest in a year.”



Inflation Fights Inflation in BOE’s Strategy for U.K. Economy

“Inflation could become an unlikely ally in the Bank of England’s fight against rising prices. As paradoxical as it sounds, rocketing energy and commodity prices may be doing the work for monetary policy. Those forces will slow growth, and in the U.K. central bank’s estimation, help contain upward pressure on prices in the longer term.”



Kuroda Doubles Down on Stimulus Commitment Even If Prices Hit 2%

“Bank of Japan Governor Haruhiko Kuroda doubled down on his commitment to continue with stimulus even if inflation continues to accelerate, in a rebuttal of the need to join a global wave of central banks normalizing policy. “We don’t know what April’s inflation rate may be, but there’s a possibility it’ll be around 2%,” Kuroda said, acknowledging that a sharp jump in price growth was looming due to rising energy prices and technical factors.”



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