WASHINGTON (Reuters) – U.S. consumer prices rose more than expected in January, with a measure of underlying inflation posting its biggest gain in a year, strengthening expectations the Federal Reserve will have to quicken the pace of interest rate increases this year.
The eurozone’s inflation rate cooled further at the start of this year, according to data released on Wednesday that may provide the European Central Bank more breathing room in timing the tightening of monetary policy.
The inflation rate, measured by the Consumer Price Index has further dropped to 15.13 per cent in January from 15.37 per cent recorded in December, 2017, National Bureau of Statistics has said.
British workers are set for the biggest annual pay rise in a decade, according to forecasts from the Bank of England’s agents, as the rising minimum wage and staff shortages finally begin to lift wages above inflation.
Bitcoin looks set to test the $10,000 mark soon, as per technical analysis, although some investors fear the Lunar New Year may play spoilsport.
Next trading day's important events
- 04:30 (GMT+3) AU – Unemployment Rate s.a. (Jan)
- USDJPY: 106.90
- EURUSD: 1.2408
- S&P 500: 2674.51
- NASDAQ: 7076.08