Recap 3-14-12

Main Items:

  • Norges Bank unexpectedly cut its main policy rate by 25bp to 1.50%, due to the continuing downtrend abroad and the strength of the Krone.
  • US Import Price Index declined to 5.5% YoY in Feb vs 5.8% exp and 7.1% prev


  • EU CPI was unchanged at 2.7% YoY in Feb as exp, but the Core measure printed 1.5% vs 1.6% exp
  • UK ILO UE was stable at 8.4% in Jan as exp

Upcoming Data:

  • Thurs: SNB, EU Employment, US PPI, Jobless Claims, Philly Fed
  • Fri: Quadruple Witching, quarterly share rebalance for the S&P indicies