- From the RBA and ECB to the Bank of England and Federal Reserve, the central banks pushed back against the dramatic backing up in short-term rates with varying degrees of adamance.
- Attention now turns from central bank meetings to economic reports that will influence future monetary policy.
- US inflation and inflation expectations are elevated, but they are not accelerating.
- The reduction of the emergency transfer payments means several hundred billion dollars of less fuel for consumption.
- In stark contrast to the inflation worries in Europe, North America, and many emerging markets, China's consumer price pressures are modest no matter how the data is sliced or diced.
For further details see:
U.S. And China's October Inflation Featured In The Week Ahead