British Chancellor of the Exchequer Hunt repeated that inflation is expected to halve by the end of the year. Meanwhile, European Central Bank policymaker Nagel repeated that core inflation is a decisive factor in setting monetary policy and that stopping rate hikes too soon would be a “cardinal sin.”
Adidas is down more than 10.0% in Germany after warning that its revenue for the year could be reduced by more than a billion euros if the company fails to sell inventory from the Yeezy brand.
U.K.’s Q4 GDP 0.0% qtr/qtr, as expected (last -0.2%); 0.4% yr/yr, as expected (last 1.9%). Q4 Business Investment 4.8% qtr/qtr (expected -0.3%; last -3.2%); 13.2% yr/yr (last 5.1%). December Industrial Production 0.3% m/m (expected -0.2%; last 0.1%); -4.0% yr/yr (expected -5.3%; last -4.3%). December trade deficit GBP19.27 bln (expected deficit of GBP16.40 bln; last deficit of GBP14.66 bln)
Italy’s December Industrial Production 1.6% m/m (expected -0.1%; last -0.1%); 0.1% yr/yr (last -3.4%)