Eurozone’s December CPI -0.4% m/m (expected -0.3%; last -0.1%); 9.2% yr/yr, as expected (last 10.1%). December Core CPI 0.6% m/m, as expected (last 0.6%); 5.2% yr/yr, as expected (last 5.0%). November Construction Output -0.81% m/m (last 1.00%)
U.K.’s December CPI 0.4% m/m, as expected (last 0.4%); 10.5% yr/yr, as expected (last 10.7%). December Core CPI 0.5% m/m (expected 0.4%; last 0.3%); 6.3% yr/yr (expected 6.2%; last 6.3%). December RPI 0.6% m/m (expected 0.7%; last 0.6%) and Core RPI 0.5% m/m (last 0.5%)
Italy’s November trade surplus EUR1.445 bln (expected deficit of EUR1.800 bln; last deficit of EUR2.057 bln)
European Central Bank policymaker Villeroy de Galhau pushed back against yesterday’s report that the ECB is looking to reduce the size of its rate hikes at the policy meeting in March. He added that inflation is expected to return to target by 2025.
The British Chancellor of the Exchequer Hunt is reportedly planning to present a slimmed-down budget with no tax cuts in mid-March.
The IMF’s chief economist said that the fund’s upcoming forecasts will be similar to the prior update.