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Barclays: The Bank of England is expected to keep interest rates unchanged in March, whereas it was previously expected to cut rates by 25 basis points.March 16 – At a press conference held today by the State Council Information Office, a spokesperson for the National Bureau of Statistics stated that based on the economic performance in the first two months, the national economy is expected to maintain a steady and progressive development trend in the next stage, continuing its upward trajectory. The spokesperson added that, judging from policy implementation, the "two major projects" (major infrastructure projects and new infrastructure projects) and "two new initiatives" (new infrastructure projects and new urbanization projects) have gradually demonstrated their effectiveness in expanding domestic demand and boosting confidence since the beginning of the year. Considering these factors, my countrys economy is expected to maintain a steady and progressive development trend in the next stage, laying a solid foundation for achieving the expected annual targets.Goldman Sachs lowered its 3-month and 6-month target levels for the MSCI Emerging Markets Index to 1520 and 1580 points, respectively, from 1570 and 1600 points.On March 16th, Q Technology (01478.HK) announced that its revenue for 2025 was approximately RMB 20.876 billion, representing a year-on-year increase of approximately 29.3%. Profit was approximately RMB 1.494 billion, representing a year-on-year increase of approximately 435.2%. The Board of Directors recommends a final dividend of HKD 40.00 per share (equivalent to approximately RMB 36.1 cents) to shareholders of the Company whose names appear on the register of members as of June 10, 2026.Bernstein raised its target price for TSMC (TSM.N) from NT$1,800.00 to NT$2,200.00.

The EUR/GBP exchange rate recovers above 0.8000 in advance of Eurozone inflation and UK gross domestic product

Alina Haynes

Mar 30, 2023 16:05

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The EUR/GBP pair extended its recovery above 0.88 during the Asian trading session. Anticipating that the European Central Bank (ECB) will continue to raise interest rates to combat persistent inflation, the cross has depreciated progressively. Friday will see the publication of preliminary Eurozone Harmonized Index of Consumer Prices (HICP) and Gross Domestic Product (GDP) (Q4) figures. Prior to the publication of these figures, it is anticipated that the asset will exhibit explosive activity.

 

It is anticipated that the preliminary Eurozone HICP will decelerate significantly from 8.5% to 7.3%. While it is anticipated that the core HICP will rise to 5.7% from 5.6% in the previous release. Weak energy prices are anticipated to have a significant impact on Eurozone inflation. In light of Christine Lagarde's prediction that inflation will remain elevated for an extended period of time, the European Central Bank (ECB) is expected to continue tightening monetary policy.

 

In the interim, banking tensions are subsiding as the absence of information regarding additional collateral damage has a positive impact on the market. Chief Economist Philip Lane stated on Wednesday that ECB interest rates must rise if banking tension has no or a "relatively limited" impact.

 

Investors avidly anticipate the United Kingdom's Gross Domestic Product (GDP) data. According to the consensus, the United Kingdom's growth in the fourth quarter of CY2022 remained unchanged. It is anticipated that the annual GDP will remain unchanged at 0.4%. It is expected that the British economy will undergo a severe recession as a result of high inflation and sluggish growth.

 

The Bank of England (BoE) policymakers appear confident that inflation will moderate in the near future and that the unexpected rise in February's inflation was a one-time anomaly; however, the absence of evidence raises doubts. If inflation persists, BoE Governor Andrew Bailey stated that additional rate increases would be announced. In contrast, Bank of America (BoA) analysts anticipate that the Bank of England (BoE) will not increase rates and will maintain current levels until 2024.


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