Rate of UK pay rises set to fall for first time since pandemic

The attempt to find a solution to the Israel-Gaza conflict comes to Washington on Monday with President Joe Biden playing host to King Abdullah of Jordan.

UK politics offers us a couple of set piece events with by-elections in the (currently) Conservative seats of Wellingborough and Kingswood. How confident are the ruling party about retaining their presence here? Well, not even Prime Minister Rishi Sunak has endorsed the Wellingborough candidate, as Financial Times columnist Henry Mance notes in his characteristically droll look at the polls.

We have a run of major statistics during the week. From the US, we’ll get consumer price index and producer price index inflation rate updates, retail sales and industrial production figures. Japan and the EU present their first estimates of GDP movement for the fourth quarter. The UK will also have a Q4 GDP estimate, CPI inflation figures and retail sales numbers, plus employment and wages data, while Germany has the latest Zew report.

There will again be plenty more central bank speakers and the earnings-season party rolls on with a smorgasbord of British utilities companies, European banks and US consumer goods manufacturers.

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