17 January 2023
Chris Scicluna
,
Emily Nicol
- Despite exceeding expectations, Chinese GDP stalled at the end of 2022 amid ongoing Covid-disruption
- Japanese tertiary activity slips back in November, despite a boost from the government’s travel incentive scheme
- ECB Chief Economist flags need for further tightening, but ready to pivot if the inflation outlook shifts
- US Empire Manufacturing survey expected to report a softer pace of contraction in January
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16 January 2023
Chris Scicluna
,
Emily Nicol
- All eyes on the BoJ’s monetary policy announcement on Wednesday; given ongoing JGB market dysfunction, a further adjustment to the YCC framework cannot be ruled out
- In the euro area, Thursday’s release of the ECB account from the December meeting will be watched closely
- UK labour market and CPI data a key focus for the BoE this week, with headline inflation likely to have fallen sharply
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13 January 2023
Chris Scicluna
,
Emily Nicol
- The BoJ continued to fight against the market pressures against the current target, with extra fixed-rate purchase operations conducted today
- Chinese exports fell for a third consecutive month in December amid a steep drop in shipments to Germany
- Euro area industrial production likely rebounded in November, albeit failing to reverse the drop the prior month to remain on track for a fall in Q4
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12 January 2023
Chris Scicluna
,
Emily Nicol
- BoJ Regional Economic Report saw most regions report a moderate improvement in economic conditions over the past three months
- Chinese inflation ticked higher in December but PPI surprised on the downside and CPI remained very subdued
- ECB consumer expectations survey results to be watched closely today for any signs of de-anchoring of household inflation expectations
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10 January 2023
Chris Scicluna
,
Emily Nicol
- BRC survey suggested a firmer festive period for UK retailers; REC survey suggests that UK labour market tightness continues to ease
- French manufacturing output rebounded more than expected in November
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