British Chambers of Commerce lowered the U.K.’s growth forecast for 2022 to 3.5% from 3.6%, expecting inflation to reach 10.0% in Q4. Italy’s Prime Minister Draghi called for a joint EU mechanism to help member states deal with energy costs. The European Central Bank will release its latest statement in a few minutes, but the market does not expect any changes to the interest rate corridor just yet. However, ECB President Lagarde is expected to set the stage for a rate hike in July.
France’s Q1 nonfarm payrolls 0.3% qtr/qtr (last 0.3%)