MNI BRIEF: BOE Rate Cut Closer But Still Some Way Off - Pill

MNI China Daily Summary: Tuesday, April 23

RPT-MNI INTERVIEW: Kaplan Says Loose Fiscal Is Holding Up Cut

MNI BRIEF: Hungary Central Bank Cuts To 7.75% As Expected

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

MNI: UK JAN-MAR MEDIAN PAY AWARDS +4.8% :XpertHR/Brightmine

Brightmine (XpertHR): Pay Deals Fall to 4.8%; Expected 5% for 2024 Overall

US Treasury Auction Calendar

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

1-Year Consumer Inflation Expectations Edge Up, But 3-Year Steady

EUROZONE DATA
DataHomepageData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

Eurozone consumer inflation expectations for the 3-years ahead remained unchanged in January at +2.5%, whilst over the 1-year ahead horizon it edged up slightly in to +3.3% Y/Y (vs +3.2% Y/Y prior), as measured by the ECB's CES survey.

  • Both uncertainty on inflation expectations and expectations of nominal income growth remained unchanged.
  • Although, the 1-year ahead measure edged up it remains the second lowest reading since February 2022, and the 3-year ahead median is in line with the 2023 average.
  • While the longer-term expectations remain above the ECB's 2% target, they are holding steady at levels well down from the near-3% levels seen in 2022. With 1-year expectations still trending lower overall despite the January uptick, there is nothing in this survey to suggest ECB policymakers will be concerned about an unanchoring of inflation expectations when considering timing of the first rate cut.

Source: ECB CES

158 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Eurozone consumer inflation expectations for the 3-years ahead remained unchanged in January at +2.5%, whilst over the 1-year ahead horizon it edged up slightly in to +3.3% Y/Y (vs +3.2% Y/Y prior), as measured by the ECB's CES survey.

  • Both uncertainty on inflation expectations and expectations of nominal income growth remained unchanged.
  • Although, the 1-year ahead measure edged up it remains the second lowest reading since February 2022, and the 3-year ahead median is in line with the 2023 average.
  • While the longer-term expectations remain above the ECB's 2% target, they are holding steady at levels well down from the near-3% levels seen in 2022. With 1-year expectations still trending lower overall despite the January uptick, there is nothing in this survey to suggest ECB policymakers will be concerned about an unanchoring of inflation expectations when considering timing of the first rate cut.

Source: ECB CES