First Rate Hike of 2022, Euro-Area Inflation, Fed Clues: Eco Day

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Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• Poland’s central bank became the world’s first to raise interest rates this year and signaled it’s ready to do more with inflation poised to hit its highest level this century
• Euro-area inflation is close to its peak as supply and energy pressures gradually ease, according to a member of the European Central Bank’s governing council
• French inflation held steady in December, showing the first signs of stabilization in the euro bloc
• Investors gauging the likely timing of the Federal Reserve’s first interest-rate hike will get fresh clues from the minutes of policy makers’ meeting last month
• Positive signs for logistics performance and an easing in price pressures show U.S. factories were better positioned to meet strong demand in December
• The rush to stockpile products on U.S. retail shelves and in warehouses ahead of the holidays could give way to an economic hangover of sorts
• China’s economic growth may have slowed in the fourth quarter to its lowest since June 2020, China International Capital Corp. analysts said
• India’s economy is starting to look stagflationary, based on Bloomberg Economics’ GDP trackers. A drop in the December composite purchasing managers’ index is another bad sign for a recovery that appears to be stalling
• Zambia’s central bank will bump up the size of its bond auctions as the government closes in on a bail-out deal with the International Monetary Fund

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