United States:
Inflation Shocks Rip Through Markets Before Key Fed Meeting
“Global traders already on tenterhooks over this week’s key Federal Reserve meeting were jolted further Tuesday by Australian inflation data that smashed expectations, a surprise monetary tightening in Singapore and further swings in U.S. equity futures. A maelstrom of volatility in the past 24 hours saw almost $3 trillion wiped off global stocks before a reversal with U.S. benchmarks closing in the green.”
Europe:
BOE Silence Leaves Investors Seeing Signal for Action on Rates
“Bank of England officials have largely decided to keep quiet in the run-up to February’s crunch meeting, allowing expectations to solidify for another interest rate increase. Since the bank hiked rates in December, few of the nine-member Monetary Policy Committee have spoken, and none are scheduled to before their next meeting. That’s despite increasing market bets that another increase will come on Feb. 3”
Asia:
Korea’s Economy Weathers Rate Hikes, Early Omicron to Accelerate
“South Korea’s economic recovery showed its resilience in the face of interest rate hikes as it expanded at a faster pace supported by firm export demand and a pickup in consumption before the emergence of omicron. Gross domestic product grew 1.1% in the October-to-December period from the prior three months, data from the Bank of Korea showed Tuesday. That was in line with economists forecasts.”
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