Compiled by: GaryMa (Wu Blockchain Blockchain)
summary
Wu Blockchain analysis of macroeconomic indicators this week: Last week, the central banks of the US, Japan, and Europe all kept interest rates unchanged, and the US PPI exceeded expectations; this week, the focus will be on Trump's 48-hour ultimatum to Iran and US inflation and consumer confidence.
Last week's review
Key events & indicators this week
March 23
summary
Wu Blockchain analysis of macroeconomic indicators this week: Last week, the central banks of the US, Japan, and Europe all kept interest rates unchanged, and the US PPI exceeded expectations; this week, the focus will be on Trump's 48-hour ultimatum to Iran and US inflation and consumer confidence.
Last week's review
- The Federal Reserve announced its interest rate decision (upper limit) at 3.75%, in line with expectations and unchanged from the previous rate of 3.75%. The median interest rate "dot plot" remained unchanged, with the divergence between those favoring a rate cut and those against remaining at 12 to 7. Meanwhile, the median core PCE inflation forecast was revised upward from 2.5% to 2.7%, and the median long-term interest rate forecast was revised upward to 3.1%.
- The US PPI rose 3.4% year-on-year in February, below market expectations of 2.9%, marking a new high since February last year.
- Bank of Japan Governor Kazuo Ueda stated at a press conference on March 19 that the central bank decided not to raise interest rates at its meeting on Thursday due to escalating risk scenarios. Hawkish board member Hajime Takada reiterated his January proposal to raise interest rates to 1.0%, a proposal that was not approved at the time.
- The number of Americans filing for unemployment benefits for the week ending March 14 was 205,000, compared with expectations of 215,000 and a previous reading of 213,000, marking the lowest level since the week ending January 10.
- The European Central Bank kept its three key interest rates unchanged, in line with market expectations, marking the sixth consecutive meeting without taking any action. The deposit facility rate, the main refinancing rate, and the marginal lending rate remained unchanged at 2%, 2.15%, and 2.40%, respectively.
Key events & indicators this week
March 23
- Trump issues 48-hour ultimatum to Iran
- US initial jobless claims for the week ending March 21 (in thousands) (20:30)
- Final reading of the University of Michigan Consumer Sentiment Index for March (22:00)
- US March final reading of one-year inflation forecast (22:00)
