Euro zone inflation unchanged at 2.2% in April, leaving path open for further ECB interest rate cuts
Euro zone inflation was unchanged at 2.2% in April, missing expectations for a move lower, flash data from statistics agency Eurostat showed Friday.
Australia’s core inflation slows to 3-year low in Q1, supports May rate cut
Also encouragingly, inflation in the services sector slowed to 3.7 per cent in the first quarter, the lowest since the June quarter of 2022.
US consumer spending surges in March, inflation cools
The Fed tracks the PCE price measures for its 2 per cent inflation target. Economists are forecasting a surge in inflation this year as the import duties raise the cost of goods.
China waives tariffs on some US goods, but denies Trump’s claim that talks are under way
Business groups said China has allowed some US-made pharmaceuticals to enter the country without paying the 125 per cent duties that Beijing imposed earlier in April,
Core inflation in Japan’s capital sharply accelerates in April
The data comes ahead of the BOJ policy meeting on Apr 30 to May 1, where the central bank is widely expected to keep short-term rates steady at 0.5 per cent.
Trump floats cutting China tariffs ‘substantially’ in trade deal
He also said he did not see the need to say he would “play hardball” with Chinese leader Xi Jinping, and that during discussions he would not raise Covid-19 – an issue that is very politically sensitive in Beijing.
China grants some exemptions from US tariffs to limit trade war pain
Task force is collecting lists of items that could be exempted from tariffs and is asking companies to submit their own requests, according to a person with knowledge of that outreach.
US mortgage rates surge by most in a year as tariffs hit markets
“Consumers are feeling anxious about the economy and the rising cost of living, potentially leading them to adopt a ‘wait-and-see’ approach regarding significant purchases like homes,”
Europe stocks pare losses following European Central Bank interest rate cut
This takes the central bank’s deposit facility rate, its key rate, to 2.25% — down from highs of 4% in mid-2023.
Japan’s core inflation accelerates, complicating BOJ’s rate path
BOJ governor Kazuo Ueda said on April 17 that the central bank would continue to raise interest rates, but it would be vigilant to sharply heightened economic uncertainty from the US tariffs.
US economists say recession risk is still high after Trump pivot
Federal Reserve Bank of New York president John Williams said he now expects “real GDP growth will slow considerably from last year’s pace, likely to somewhat below 1 per cent”.
US Fed officials see higher inflation ahead as consumer confidence plunges
“Long-run inflation expectations climbed from 4.1 per cent in March to 4.4 per cent in April, reflecting a particularly large jump among independents,” it added.