March 12, 2026
United States:
US Trade Gap Narrowed in January by More Than Projected
The US trade deficit narrowed in January as exports increased, coming off of a turbulent year for domestic importers contending with erratic tariff policy.
The gap in goods and services trade shrank more than 25% from the prior month to $54.5 billion, Commerce Department data showed Thursday.
Europe:
EU Warns Iran Conflict Could Push Bloc’s Inflation Above 3%
The European Union warned that its inflation rate could surpass 3% this year if the war in the Middle East causes Brent oil prices to remain around $100 per barrel and gas prices stay elevated for an extended period.
Under such a scenario, economic growth in 2026 would also take a hit. It would be as much as 0.4 percentage points lower than the 1.4% pace forecast late last year, the EU’s economy chief, Valdis Dombrovskis, told the bloc’s finance ministers this week, according to people familiar with the matter.
Asia:
BOJ Watchers Set Sights on April Rate Hike After Hold Next Week
After holding policy settings steady next week, the Bank of Japan will likely raise its benchmark interest rate in April, according to more than a third of surveyed economists.
All 51 economists expect Governor Kazuo Ueda’s board to keep borrowing costs unchanged at 0.75% at the end of a two-day meeting next Thursday, according to a Bloomberg survey conducted March 5-10.
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