European Central Bank President Lagarde said that she has not seen clear evidence that inflation is trending down and that she is not committed to any rate hikes or a pause yet.
ECB Chief Economist Lane said that there are reasons to believe that underlying inflation will ease over time. Germany’s council of economic advisors expects 2023 domestic inflation to reach 6.6% and slow to 3.0% in 2024.
Eurozone’s January Current Account surplus EUR17.00 bln (expected surplus of EUR16.50 bln; last surplus of EUR13.00 bln)
U.K.’s February CPI 1.1% m/m (expected 0.6%; last -0.6%); 10.4% yr/yr (expected 9.9%; last 10.1%). Core CPI 1.2% m/m (expected 0.8%; last -0.9%); 6.2% yr/yr (expected 5.7%; last 5.8%). February Input PPI -0.1% m/m (expected 0.2%; last 0.4%) and Output PPI -0.3% m/m (expected 0.2%; last 0.5%)