Inflation pressures, again?
- A number of central bankers crowd the agenda, plus Lagarde of the IMF (who is neither central banker nor economist). Of the collection Evans of the Fed may be interesting as economists try to gauge whether others on the Fed share Yellen's apparent disregard for rising inflation pressures.
- The Euro area offers consumer price inflation – German figures yesterday were stronger than expected. Euro area core inflation figures are not well correlated, but globally there has been a tendency for price data to surprise on the upside in the last couple of months.
- The UK is delivering final Q4 GDP which is not likely to cause much excitement (and is also not really final, as the data will be revised again and again and again). However the consumer credit figures may be more interesting, as a possible pressure on the Bank of England.
- Manufacturing sentiment in the US comes in the form of the Chicago PMI figures. Sentiment is prone to sensationalise underlying economic trends, but the regional surveys of business sentiment have been stronger recently.