March 13, 2025
United States:
US Producer Prices Stall While Details Suggest Firmer Fed Gauge
US wholesale inflation stagnated in February thanks to a decline in services costs, but details for the Federal Reserve’s preferred inflation gauge were less favorable.
The producer price index was unchanged from a month earlier following a revised 0.6% increase in January, according to a Bureau of Labor Statistics report released Thursday.
Europe:
ECB Will Be Back to 2% Target at End of Year, Nagel Tells BBC
Euro-area inflation will return to the European Central Bank’s 2% target by the end of 2025, Governing Council member Joachim Nagel told the BBC.
“We will achieve price stability this year,” the Bundesbank president said in an interview. “We are back to our target at the end of this year — this is good news.”
Asia:
Foreigners Snapping Up China’s Bank Debt May Boost Yuan Defense
China’s bond selloff is creating pockets of opportunity for foreign investors, who can swap dollars for more attractive yuan-denominated short-term bank debt — and inadvertently bolster Beijing’s support of its currency.
The yield on one-year AAA-rated negotiable certificates of deposits, short-term debt issued by banks, rose to 2.03% this week, the highest since June, according to data compiled by Bloomberg.
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