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UK inflation steadies, but peak still months away

Chris Scicluna
Emily Nicol
  • Euro area consumer confidence set to remain at historically low level
  • Powell to repeat to Congress Fed commitment to bringing inflation back to target

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Macron loses parliamentary majority

Chris Scicluna
Emily Nicol
  • No take-up at BoJ’s latest JGB purchase operation as Kuroda repeats new yen mantra

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BoJ keeps main policy parameters unchanged

Chris Scicluna
  • Despite the more hawkish shifts of the other major central banks over the past week or so, the BoJ Policy Board decided today to keep its main monetary policy parameters unchanged.

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Fed hikes by 75bps as it heads towards a restrictive stance

Chris Scicluna
  • Despite intensified price pressures, the BoE is likely to hike by just 25bps today as GDP weakens and the external demand outlook clouds
  • Japan’s adjusted trade deficit hit a series high due to a surge in energy imports

 

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ECB calls emergency Governing Council meeting

Chris Scicluna
  • The PBoC eschewed a rate cut, helping the yuan to appreciate. 
  • Japan’s services data signalled the likelihood of firm GDP growth in Q2 with machine orders up sharply too. 
  • The Fed now seems bound to hike the FFR target range by 75bps later today. 

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