Last minute nerves ahead of US inflation
US CPI is out today. JBWere’s Sally Ald says it comes after the upside surprise last time. This wlll confirm or otherwise how sticky inflation is.
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Tuesday 12th March 2024
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US CPI is out today. A core monthly read of 0.3 percent is expected. JBWere’s Sally Auld says that’s too high to meet the Fed’s target so we’ll need to see CPI down to 0.2 percent over successive months before they can be certain they are on track. Japan’s GDP growth was lower than expected, although the country is now officially out of recession, but only by the tiniest margin. Could the BoJ really be planning rate hikes in such an environment? Iron ore prices took a hit overnight, whilst gold and Bitcoin are at or near all time highs. There’s clearly a lot of uncertainty out there.
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