- The British pound slid to around $1.26, touching its weakest level since February 19th. UK consumer spending stalled in February and Bank of England Governor Andrew Bailey hinted at potential interest rate cuts this year.
- The inflation rate dropped to 3.4% year-on-year in February 2024, down from 4% recorded in January and December and falling below the market expectation of 3.5%.
- The Bank of England maintained the Bank Rate at 5.25% during the March meeting, as policymakers awaited clearer signals indicating that the country's persistent inflationary pressures had subsided.
- Retail sales volumes in the United Kingdom remained unchanged in February 2024, following an upwardly revised 3.6% increase in January and defying market forecasts, which had anticipated a 0.3% decline.
- The Federal Reserve left the fed funds rate steady at a 23-year high of 5.25%-5.5% for a fifth consecutive meeting in March 2024, in line with market expectations.
- On Wednesday, Fed Vice Chair for Supervision Michael Barr said that the higher-than-expected inflation in January shows the United States' path back to 2% inflation.
- The euro dipped to around $1.08, reaching its lowest point since February 29th, as dovish comments from a typically hawkish European Central Bank policymaker boosted hopes that the bloc's central bank might start cutting rates soon.
- The consumer price inflation rate in the Euro Area was confirmed at 2.6% year-on-year in February 2024, the lowest rate in three months but still exceeding the European Central Bank's target of 2%.
ECB President Lagarde Speech (10 a.m.)
FED Bostic Speech (12:25 p.m.)
USA Durable Goods Orders MoM (12:30 p.m.)
UK GDP Growth QoQ Final (7 a.m.)
USA GDP Growth QoQ Final (12:30 p.m.)
USA Initial Jobless Claims (12:30 p.m.)
USA Core PCE Price Index MoM (12:30 p.m.)
USA Personal Income MoM (12:30 p.m.)
USA PCE Price Index YoY (12:30 p.m.)
FED Chair Powell Speech (3:30 p.m.)
