Pantheon Macroeconomics after CPI: provisionally estimate the core PCE deflator at 0.32% in March, lifting the inflation rate to 3.4% (prev. 3.3%)
US EQUITY OPEN: Indices see two-way trade post-CPI as Tech rout takes a breath
US Senate Republican leader Thune says that "most" Republican senators want the US to finish the job with reference to Iran, speaking to Fox News
Pantheon Macroeconomics after CPI: provisionally estimate the core PCE deflator at 0.32% in March, lifting the inflation rate to 3.4% (prev. 3.3%)
BoC's Macklem: Governing Council agreed to look through the war’s near-term impact on inflation but if energy prices stay high, we will not let their effects become broad-based persistent inflation.
BoC keeps rates on hold as expected at 2.25%; Governing Council is continuing to look through the war’s near-term impact on headline inflation, but will not let higher energy prices become persistent inflation.
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- Pantheon adds, "All told, we see no sign of second-round effects from the surge in energy prices which would warrant the FOMC tightening policy, but it’s still early and the recent run of better labor market data has enabled the Committee to focus solely on inflation risks."
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