US CPI cooled by more than expected to 5% YoY in March, down from 6% in February and below forecasts of 5.2%. However, core inflation, which strips out volatile items such as food and fuel rose to 5.6% YoY, up from 5.5% and in line with forecasts.
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Stocks in London were set for a higher open on Tuesday, with investors feeling cautiously optimistic as the dust settles from the recent turmoil in the banking sector.
A relief ripple is helping. | March 28, 2023
Trade bodies across the sector have hit out at the Bank of England (BoE) Governor's “ludicrous” and “impossible” suggestion that firms should “stomach” cost increases.