Traders have sharpened speculation of just how high major central banks will need to raise interest rates after stronger-than-expected data pointed to robust economic activity across Asia, Europe and the US.
Federal Reserve chairman Jerome Powell: Stocks sold off overnight after strong PMI data signalled more rate rises from the Fed.“The PMI releases are not only painting a picture of economic resilience across developed market economies, but with inflationary pressures still elevated, the data also suggests that developed market central banks still have work to do in order to bring inflation to heel,” said Rodrigo Catril, senior FX strategist at National Australia Bank.
European data pointed to similar strength in business activity, easing recession fears, but indicated that the European Central Bank and Bank of England were not nearing a pause in their tightening cycles.P Global’s flash composite PMI for the 20-nation eurozone, viewed as a reliable gauge of the bloc’s economic health, climbed to a nine-month high of 52.3 in February from 50.3 in January. A Reuters poll predicted a more modest rise to 50.6.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FinancialReview - 🏆 2. / 90 Read more »