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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
German CPI climbed as expected in January
In Germany, the CPI rose 8.70% on a YoY basis in January, at par with market expectations and compared to a rise of 8.60% in the prior month.
German business climate index advanced less than anticipated in February
In Germany, the Ifo business climate index climbed to 91.10 in February, compared to a revised level of 90.10 in the previous month. Markets were anticipating the index to climb to 91.40.
German current assessment index unexpectedly dropped in February
In Germany, the Ifo current assessment index unexpectedly fell to 93.90 in February, compared to a level of 94.10 in the prior month.
German business expectations index climbed more than anticipated in February
In German, the Ifo business expectations index rose to 88.50 in February, compared to a level of 86.40 in the previous month. Market anticipations were for the index to rise to 88.30.
FOMC minutes signalled further interest rate hikes to curb inflation
The Federal Reserve (Fed), in its February monetary policy meeting minutes, indicated that there are signs of a slowdown in inflation, however, a restrictive policy stance would need to be maintained to bring inflation down to its 2% target. Further, all officials agreed it was appropriate to raise interest rates by 25 basis points in the upcoming meeting.
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