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Business activity in India’s services sector softened in April but remained near its highest level in just under 14 years. However, some signs of weakness are emerging amid concerns that interest rates will stay higher for longer.
As expected, at its recently concluded March meeting, the Fed stood pat on interest rates. Of greater interest, the "dot-plot", skewed much more to the hawkish side.
BoE deputy governor for financial stability Sarah Breeden said her focus on tackling inflation will shift to wage growth as its remains “elevated”.
Retail sales more than kept up with the pace of inflation in December, putting pressure on the Fed to keep interest rates higher for longer.
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