- The Indian economy grew by 8.4% during the October-December quarter of FY24, better than the estimation of 7.3%, according to the Statistics Ministry.
- India’s GDP Annual growth rate expanded by 7.6% from 7.2%.
- The US Personal Consumption Expenditure (PCE) Price Index eased from 2.6% to 2.4% YoY, in line with market expectations.
- The Core PCE, the Fed preferred inflation gauge, rose by 2.8% YoY in January compared to December’s reading of. 2.9%, matching the consensus.
- Atlanta Fed President Raphael Bostic said that the recent inflation data indicates the road back to the central bank’s 2% inflation target will be “bumpy.”, while Chicago Fed President Austan Goolsbee, stated that he expects the first rate cuts later this year, but he cannot specify the timeline.
- Investors have already fully priced out a Fed rate cut in March but priced in 50% odds of a rate cut in the June meeting.
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