United States:
U.S. Inflation Hope, Fed Watch, Canada Rate Fears: Eco Day
“U.S. Treasury Secretary Janet Yellen said she continues to forecast inflation falling close to 2% by the end of 2022. Federal Reserve officials will signal next week they’ll raise interest rates in March for the first time in more than three years and shrink their balance sheet soon after, economists surveyed by Bloomberg said”
Europe:
U.K. Consumer Confidence Tumbles on Concern About Cost of Living
“U.K. consumer confidence fell in January to depths last seen during the early months of lockdown in 2021 as cost-of-living crisis took over from the pandemic as a prime concern. GfK’s monthly consumer confidence index, which is closely followed by the Bank of England and the Treasury, dropped 4 points in January to minus 19, the lowest level since the country was in lockdown in February 2021.”
Asia:
Chinese Banks Cut Borrowing Costs as PBOC Signals Easing
“Chinese lenders lowered borrowing costs for a second straight month after the central bank cut policy loan rates and pledged more easing to stabilize the economy. The one-year loan prime rate was cut by 10 basis points to 3.7% on Thursday, in line with forecasts in a Bloomberg survey of economists. The five-year rate, a reference for long-term loans including mortgages, was lowered by 5 basis points to 4.6%, a smaller reduction than predicted.”
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