US wholesale inventories rose 0.5% in August, missing 0.7% forecast
US wholesale inventories rose less than expected in August, while wholesale sales surged.
ECB's Lane warns sustained energy price increases may curb autumn consumption. Odds of consecutive ECB rate hikes are slightly over 50%.
Lane stated that if the climb in energy costs continues, it may affect spending in the autumn, but the situation remains uncertain.
The approach taken suggests the burden of proof is now aimed at negative outcomes. Central bankers often factor in some weakness in non-energy spending during price surges, but ECB President Lagarde this week highlighted that the economy and consumption have proven resilient.
The question now is whether the ECB will raise rates in consecutive meetings, with current odds slightly above 50%.
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US wholesale inventories rose less than expected in August, while wholesale sales surged.
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Bailey said monetary policy must stay unwaveringly committed to getting inflation back to target, and that core market resilience needs strengthening.