Today, a panel discussion featuring European Central Bank President Christine Lagarde, Bank of England Governor Andrew Bailey and Federal Reserve Chairman Jerome Powell will take place at the ECB’s annual conference on central banking in Sintra, Portugal.
The markets will be listening closely for any comments surrounding monetary policy, interest rates and the global economy.
Inflation worries are weighing on the markets today, which has caused the dollar to strengthen across the board. The latest US Conference Board consumer confidence data, released yesterday, came in at its lowest level in 16-months, revealing that high inflation is taking its toll.
Meanwhile, the latest figures from the British Retail Consortium show that food inflation has hit its highest level in over a decade. This was driven by the rising price of fresh food.
The pound is still weaker against the dollar this morning after falling yesterday but has gained some ground against the euro. All eyes will be on Andrew Bailey’s speech later today.
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