In today’s briefing:
- EA: HICP Limbos Under Jan-23 Forecasts
- CX Daily: Where Do Fake Covid Drugs Come From?
EA: HICP Limbos Under Jan-23 Forecasts
- Flash EA inflation plummeted by 74bp in Jan-23 to 8.46% y-o-y. That was 20bps below our forecast, which was already about 0.4pp under the consensus.
- Germany’s postponed release left Eurostat to estimate an even lower outcome than we assumed. An update 0.6pp less weak next week would prompt an 18bp EA revision.
- The headline’s roll into a downward trend has also shifted surprises. Still, it has not dented the hawkish underlying pressures pushing further ECB rate hikes.
CX Daily: Where Do Fake Covid Drugs Come From?
Drugs / In Depth: Where do fake Covid drugs come from?
Debt / Local Chinese governments paid $148 billion in interest in 2022
Economy / IMF raises China’s 2023 growth forecast to 5.2% as economy reopens
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