PREVIOUS TRADING DAY EVENTS 22 March 2023

Announcements  

UK inflation rises unexpectedly! Released UK inflation data for February showed the first rise in annual CPI inflation. In four months, it rose from 10.1 to 10.4 exceeding the expected 9.9. One should expect that after the recent interest rate hikes increases, inflation should start to fall but surprisingly, thats not the case. On the contrary, in the US and the Eurozone inflation has eased to 6 and 8.5 respectively.

Source BDSwiss Economic Calendar

ECB President Lagarde While headline inflation is likely to decline steeply this year, driven by falling energy prices and easing supply bottlenecks, underlying inflation dynamics remain strong. In such an environment, our ultimate goal is clear we must and we will bring down inflation to our mediumterm target in a timely manner.

Source httpswww.ecb.europa.eupresskeyspeakerpreshtmlindex.en.html

The Federal Reserve has raised the policy rate by 25bp to 5.00 as expected. The unemployment rate has remained low. Inflation remains elevated. The US banking system is sound and resilient seeking to achieve maximum employment and inflation at the rate of 2. The Fed also signalled that the termination of its aggressive streak of rate increases is approaching. In its policy statement, it removed previous references to keep raising rates at future meetings.

Source httpswww.federalreserve.govmonetarypolicyfomccalendars.htmcalendars

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