A look at the day ahead in European and global markets from Anshuman Daga
to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies, Russia's war in Ukraine continues and the world's major economic engines sputter.
While Federal Reserve Chair Jerome Powell did not give any policy clues in a panel discussion in Stockholm overnight, Fed Governor Michelle Bowman said the central bank would have to raise interest rates further to combat high inflation. The U.S. consumer price index report on Thursday is the big event for markets. The report is expected to show December's headline inflation at 6.5% versus 7.1% in November.
Indications from the December U.S. jobs report released last week that wage inflation is slowing has provided some reassurance that inflation is past its peak, thus potentially giving the Fed leeway to slow its interest rate hikes.
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