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ECB to Keep Guard Up Despite Muted Signs of Inflation Spiral
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- The European Central Bank is set to raise interest rates for the first time in nearly three years due to broader inflation pressures.
- Eurozone inflation accelerated to 3.2% in May, with core inflation rising to 2.5%, likely prompting the ECB to raise its forecast Thursday.
- Cvoiding another wage-price spiral is the central bank’s primary focus, though it has not yet appeared in higher pay demands.
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Bank of Canada to Leave Policy Rate Unchanged Amid Recession Talk, WSJ Survey Says
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- The Bank of Canada is expected to keep its main interest rate at 2.25% on Wednesday.
- Canada’s economic output declined 0.1% annualized in the first quarter, missing the central bank’s forecast and triggering recession talk.
- Despite softening core inflation and slower headline price increases, some economists expect the central bank to maintain its inflation warning.
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China’s Producer Inflation Gains Pace as Mideast War Fuels Higher Prices
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- China’s factory-gate inflation accelerated in May, with the producer price index jumping 3.9% due to higher energy costs.
- The 3.9% increase in China’s PPI in May marked the third consecutive month of increases after a 41-month decline.
- China’s consumer-price index rose 1.2% on year in May, unchanged from April, while core CPI grew 1.1%.
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Europe Has Learned Silence Can Be Golden in Trump Trade Spats, Top EU Legislator Says
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- Roberta Metsola, president of the European Parliament, said the EU learned to be “the boring partner” with the U.S. amid new trade duties.
- Total trade between the U.S. and the EU reached nearly 1.8 trillion euros ($2.1 trillion) last year, highlighting the relationship’s vitality.
- Europeans have gained confidence in advocating for the EU from dealing with the Trump administration, despite preferring a zero-tariff situation.
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U.S. Trade Deficit Nearly Flat in April
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- America’s trade deficit was $55.9 billion in April, remaining largely unchanged and indicating President Trump’s tariffs have not rebalanced trade.
- President Trump enacted a temporary 10% tariff in February, set to expire in July, and proposed new tariffs up to 12.5% last week.
- U.S. imports grew 2% to $383 billion and exports rose 2.6% to $327.1 billion in April, with crude oil exports up $6.4 billion.
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Canada Goods-Trade Surplus Widens to Biggest Level in More Than a Year
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- Canada’s goods-trade surplus widened to a 15-month high of C$2.72 billion in April, driven by record exports.
- Exports to the U.S. increased for a third consecutive month in April, widening the trade surplus with the U.S. to C$9.48 billion.
- Overall Canadian goods exports rose 1.6% from March to C$75.16 billion, while imports edged up 0.3% to a record C$75.44 billion.
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Trump Regulator Proposes New Rules on What’s Allowed on Prediction Markets
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- The Commodity Futures Trading Commission will propose new rules for prediction markets, allowing most sports-related bets while seeking to avoid manipulation.
- The proposed rules would likely prohibit bets on war, terrorism, assassinations, player injuries, and first pitch gambling.
- The CFTC, under its Trump-appointed chair, has been broadly permissive to prediction platforms, despite bipartisan lawmakers proposing legislation to ban sports-related contracts.
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WSJ Pro Central Banking brings you news and analysis from a global team of reporters and editors at The Wall Street Journal and Dow Jones Newswires. Send your tips, suggestions and feedback to service@dowjones.com. An artificial-intelligence tool created these summaries, which are based on the text of the article and checked by an editor. Read more about how we use artificial intelligence in our journalism.
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