February 12, 2025
United States:
US Core Inflation Rose 0.4% in January, Topping Forecasts
Underlying US inflation last month rose by more than forecast, supporting the Federal Reserve’s cautious approach to lowering interest rates.
The so-called core consumer price index — which excludes food and energy costs — increased 0.4% in January after a 0.2% advance in December, Bureau of Labor Statistics figures showed Wednesday. From a year ago, it rose 3.3%.
Europe:
ECB Shouldn’t Cut by Half-Point This Year, Holzmann Tells CNBC
The European Central Bank shouldn’t increase the size of its interest-rate cuts to perk up the region’s flagging economy, Governing Council member Robert Holzmann told CNBC.
Warning that US trade tariffs could yet revive price pressures, the hawkish Austrian official urged the ECB to continue acting prudently.
Asia:
Yen Underperforms Major Peers on Trump Tariff Uncertainties
The yen is on track for its longest losing streak in more than a month amid heightened concerns Japan may be included in Donald Trump’s tariff plan.
Japan’s currency dropped as much as 0.9% to 153.89 against the dollar on Wednesday, its weakest level in a week and lagging all major peers.
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