Last week, the US CPI in March exceeded expectations, and the expectations of the Fed's interest rate cut were hit hard. At the same time, the market suffered a sharp decline due to the impact of geopolitics.

This week, we will focus on the Beige Book of the Federal Reserve's economic situation and related speeches by Fed officials.

Last week's review

● The US March unadjusted CPI annual rate was 3.5%, expected to be 3.4%, and the previous value was 3.2%.

● The Reserve Bank of New Zealand has kept interest rates unchanged for six consecutive times, suggesting that interest rates still need to remain restrictive.

● The Bank of Canada announced that it will continue to maintain the benchmark interest rate unchanged.

● Fed meeting minutes: Almost all officials believe that this year is suitable for interest rate cuts, and they are planning to start slowing down the balance sheet "soon".

● The European Central Bank decided to continue to keep the three key interest rates unchanged.

● The US PPI annual rate in March reached 2.1%, the highest since April 2023.

Key events & indicators this week

April 16

●Fed Vice Chairman Jefferson speaks on monetary policy (21:00)

April 17

●Fed Chairman Powell participates in a Q&A session (01:15)

●UK March CPI monthly rate (14:00)

●Eurozone March CPI monthly rate (17:00)

April 18

●Fed releases Beige Book on economic conditions (02:00)

●2024 FOMC voting member, Cleveland Fed President Mester speaks (05:30)

●Federal Reserve Board member Bowman speaks (07:15)

●2024 FOMC voting member, Atlanta Fed President Bostic speaks on the economy (23:00)

April 19

●2024 FOMC voting member, Atlanta Fed President Bostic speaks on economic outlook, monetary policy and real estate issues (05:45)