World Market News of the 17 January with FXOpen #ukinflation #fomc #chinaeconomy #chinagdp

UK INFLATION RATE SURPRISES WITH RISE TO 4% UK inflation unexpectedly nudged upwards to 4% year-on-year in December. Economists polled by Reuters had expected a modest decline in the annual headline consumer price index to 3.8%, after November’s sharper-than-expected fall to 3.9%. Month-on-month, the headline CPI rose by 0.4%, above a consensus forecast of 0.2% and up from -0.2% in November. Source: CNBC CHINA’S ECONOMIC GROWTH IS SET TO SLOW IN 2024 Major international investment banks expect China’s economy to grow at a slower pace in 2024 than in 2023, according to annual forecasts released in the last few months. The average prediction among five firms, including Goldman Sachs and Morgan Stanley, pointed to a 4.6% increase in real GDP this year, down from 5.2% expected for 2023. The world’s second-largest economy has slowed from the double-digit growth of past decades, weighed down during the pandemic restrictions and, more recently, a slump in the real estate market. Source: CNBC SLOWER PACE OF FED CUTS Federal Reserve Governor Christopher Waller said there will be monetary policy loosening this year but the central bank could do it at a slower pace. “In many previous cycles ... the FOMC cut rates reactively and did so quickly and often by large amounts.” For this cycle, he said, “I see no reason to move as quickly or cut as rapidly as in the past.” Source: CNBC 🌐 FXOpen official website: Join us on our social networks: ✅ ✅ ✅ ✅ CFDs are complex instruments and come with a high risk of losing your money.