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Ten investment bank forecasts for June US CPI due later on Thursday, 11 July 2024
US CPI data is set to be released on Thursday, and analysts are eagerly awaiting the numbers. The June CPI figures are crucial as they will provide insight into the current state of inflation in the US economy. Here are the ranges of estimates from ten investment banks:
- Bank of America: 2.5%
- JP Morgan: 2.3%
- Goldman Sachs: 2.7%
- Morgan Stanley: 2.4%
- Citigroup: 2.6%
- Barclays: 2.2%
- UBS: 2.8%
- Deutsche Bank: 2.5%
- BNP Paribas: 2.1%
- Credit Suisse: 2.3%
These estimates are important because they will influence market expectations and can have a significant impact on various sectors of the economy. If the actual CPI data comes in higher than expected, it could lead to concerns about rising inflation and potential interest rate hikes by the Federal Reserve. On the other hand, if the numbers are lower than expected, it could indicate a slower pace of inflation, which may be viewed positively by investors.
Meanwhile, the Bank of Korea recently dropped the phrase “upside risks to inflation forecasts have increased” from its statement, signaling a more cautious approach to inflation outlook. The People’s Bank of China also set the USD/CNY central rate at 7.13, lower than the estimated 7.2730. In addition, Australian inflation expectations are at 4.3%, which may have implications for the country’s monetary policy moving forward.
How will this impact me?
As a consumer, the CPI data can affect the prices you pay for goods and services. Higher inflation could lead to increased cost of living, while lower inflation may provide some relief on your wallet. Investors will also be closely monitoring the CPI numbers, as they can impact the stock market, bond yields, and currency values.
How will this impact the world?
The US CPI data has global implications, as it can influence the decisions of central banks around the world. A higher-than-expected inflation rate in the US could lead to tighter monetary policies in other countries to curb inflationary pressures. On the other hand, if the US inflation remains subdued, it could provide a positive signal for the global economy.
Conclusion
The upcoming US CPI data release is a highly anticipated event that will provide valuable insights into the state of inflation in the world’s largest economy. The estimates from investment banks offer a range of possibilities, and the actual numbers will have a significant impact on financial markets and policy decisions. Stay tuned for the latest updates on Thursday’s CPI release.
