To get John Authers' newsletter delivered directly to your inbox, sign up here.
If there’s any one single reason why interest rates aren’t already falling across the developed world, it’s because inflation isn’t obediently falling as expected. It’s not surging either, but seems to have stalled at a disappointingly high level. Nobody much seems to see that changing much when the numbers for March are released Wednesday. Core inflation is expected to be virtually unchanged, while higher oil prices are projected to increase headline inflation:
If there’s any one........