February 26, 2024
United States:
Fed-Favored Inflation Gauge Seen Rising Most in a Year
Underlying US inflation probably rose in January by the most in a year, as tracked by the Federal Reserve’s preferred metric, highlighting the long and bumpy path to taming price pressures.
The core personal consumption expenditures price index, which excludes food and energy costs, is seen rising 0.4% from a month earlier. That would mark the second straight monthly acceleration in a gauge that’s largely been receding over the past two years.
Europe:
ECB Faces Bigger Problems Than the Fed Does, Stournaras Says
The European Central Bank is facing tougher challenges than the US Federal Reserve, according to Governing Council member Yannis Stournaras, who sees a first rate cut in June.
“The ECB has to deal with more difficult problems than the Fed,” the Greek central bank chief said Monday, citing fragmentation in the euro area’s banking system and the legacy of the region’s sovereign debt crisis.
Asia:
China Vows to Dismantle Local Barriers to Build National Market
China’s Premier Li Qiang urged policymakers to clean up policies that hinder fair competition and take on steps needed to build a unified national market, China Central Television reported.
Chairing a State Council group study session Monday, Li called for the authorities to break down explicit and implicit access barriers in local markets. Policymakers should also continue to address other issues related to the goal of forming a unified market, including local protection and market segmentation, Li said.
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