Europe’s sticky mess
Inflation is taking longer than expected to fall in Europe. US inflation numbers came down on Friday but NAB’s Tapas Strickland points out, you have to go to the third decimal point to see the fall.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Monday 3rd June 2024
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Europe’s core inflation number rose slightly on Friday. That won’t change the ECB’s bolted-on decision to cut rates this week, but the likelihood of more than one other cut this year is diminishing. NAB’s Tapas Strickland says Friday’s Core PCE Deflator number in the US was lower than last time, but if it had been 0.002% higher it would be the same as last time. Not enough to change expectations from the Fed, with speakers now in the blackout period ahead of the June 14 meeting. Today |Australia’s wage award decision will be watched, and GBP for Q1 is out this week too.
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