“My sense is that markets are well-prepared for a possible rate increase globally, and that this is not too surprising given our liftoff from December and the policy of the committee which has been to try to normalize rates slowly and gradually over time,” Bullard told a news conference after speaking at an academic conference in Seoul.
German annual inflation rose out of negative territory in May but only as far as zero, showing price pressures in Europe’s largest economy remain weak despite the European Central Bank’s ultra-loose monetary policy.
The arrival of higher energy prices isn”t necessarily bad news for consumers — at least not yet. Analysts expect gasoline and airline fares to stay relatively low at least through the summer travel season.
Next Trading Day’s Important Events
- 12:00 (GMT+3) EU CPI
- USDJPY: 111.19
- EURUSD: 1.1141
- S&P 500: 2,099.06
- NASDAQ : 4,933.50