The BoE expects inflation to reach its 2% target as soon as Q2 this year but surprised markets by forecasting a resurgence that will send it back above target until Q4 2026

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There was no respite for the Euro in data showing resilient inflation, perhaps because that’s not expected to last

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US Fed Chair Jerome Powell poured water on a March rate cut at yesterday’s FOMC meeting but markets continue to price in an aggressive series of cuts for the rest of the year.

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