President Donald Trump’s travel ban dominated headlines yesterday. A ruling will be announced this week from the three-judge panel of the US Court of Appeals for the Ninth Circuit in San Francisco which may put an official end to the ban. Trump has continued to express his anger on Twitter, in the only way he knows how. His latest comments on the hearing is that the ban is “disgraceful”.
Closer to home, the Bank of England yesterday said price rises already seen in food and fuel will spread to other goods later this year. The BoE are expecting inflation to rise substantially in the near future. The latest CPI figure posted its highest rate since July 2014 in December and this is expected to continue next week when the latest UK inflation figures are released.
Another piece of high tier US labour data is released Thursday. Many economists’ are suggesting that if the labour market, in particular wage growth, continues to lag we could see the Federal Reserve hold off another rate rise at the FOMC’s next meeting.