Retail Sales in U.S. Show Impact of Surging Gasoline Prices
“U.S. retail sales picked up in March, helped by a surge in gas station receipts that masked mixed results in other large spending categories as consumers contend with decades-high inflation. The value of overall retail purchases climbed 0.5%, Commerce Department figures showed Thursday. While that was just shy of expectations, the prior month was revised up sharply to show a 0.8% increase.”
ECB President Lagarde Says War Is Stoking Risks to Inflation in Euro Zone
“The war in Ukraine has increased the danger that record inflation accelerates further, affirming the European Central Bank’s stance that exiting stimulus in the coming months is appropriate, President Christine Lagarde said.”
China’s Central Bank Likely to Cut Interest Rate for Second Time
“China’s central bank is expected to cut its key policy interest rate for the second time this year on Friday and reduce the reserve requirement ratio within days to help bolster a faltering economy under strain from Covid lockdowns.”
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