Event of the Week – Monetary Policy Statement (JPY, GMT 03:00) – The Bank of Japan’s new chief Kazuo Ueda will not start unwinding its ultra-easy policy at April 27-28 meeting, nearly 90 per cent of economists polled by Reuters said, as the chance of a surprise tweak at his first rate-review subsided. No surprises (yet) from the BOJ rates to remain -0.1%.
German Consumer Price Index (prelim) (EUR, GMT 10:00) – German HICP inflation was confirmed at 7.8% y/y, as expected. The sharp deceleration from the 9.3% y/y rate in February was mainly due to lower energy prices and the fact that base effects from the initial impact of the Ukraine war on prices fell out of the equation. The Preliminary release is the Eurozone’s earliest major consumer inflation. One to watch.
Core PCE Price Index (EUR, GMT 12:30) – U.S. personal income increased 0.3% in February and consumption rose 0.2%. Those follow a 0.6% gain in January income and a 2.0% surge in spending. December income was up 0.3% and consumption was unchanged. Compensation increased 0.3% in February after climbing 0.9% previously. The Core PCE Price Index is expected to remain unchanged at 0.3% and the Employment cost index to tick higher to 1.1% from 1.0%.
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