Core Viewpoint - Federal Reserve Chairman Jerome Powell indicated that inflation in the services sector is decreasing while inflation in the goods sector is rising [1] Group 1: Inflation Trends - Services sector inflation is showing a downward trend, suggesting potential easing in consumer prices related to services [1] - Conversely, inflation in the goods sector is on the rise, indicating potential pressures on prices for physical products [1]

Core Viewpoint - The chief economist of ING, Carsten Brzeski, maintains the expectation that the European Central Bank (ECB) will lower interest rates in September after a pause in today's meeting [1] Group 1 - Core inflation and service sector inflation remain above 2%, providing the ECB with little reason to move away from its current "comfort zone" [1] - If two more weak inflation data points emerge over the summer, along with hard data consistently underperforming soft data, a final rate cut may be seen in the September meeting [1]

Core Viewpoint - The report indicates that the European Central Bank (ECB) is likely to be encouraged by further signs of easing inflation, particularly in the services sector, which may support a pause in interest rate cuts [1] Economic Indicators - Business surveys show that the Eurozone economy is generally stagnating this month, with signs that input prices in the key services sector are slowing down [1] - Current service sector inflation remains above 3%, but there is an expectation that it will continue to decline [1] Policy Implications - The findings are expected to strengthen policymakers' confidence in the downward trend of service sector inflation [1] - The ECB is anticipated to announce its latest policy decision, with the market widely expecting interest rates to remain unchanged [1]

Core Viewpoint - The Vice President of the European Central Bank, Luis de Guindos, noted a significant slowdown in inflation within the services sector [1] Group 1 - The services sector is experiencing a notable decrease in inflation rates, indicating a potential easing of price pressures [1]

Core Viewpoint - The Chief Economist of the European Central Bank, Philip Lane, indicated that there is still a significant distance to overcome regarding inflation in the services sector [1] Group 1 - The services sector inflation remains a concern for the European Central Bank, suggesting that it is not yet at a satisfactory level [1]

Group 1 - The Deputy Governor of the Bank of England, Jon Cunliffe, indicated that inflation in the services sector is showing signs of being quite persistent [1]

Group 1 - The Bank of England is expected to maintain the policy interest rate at 4.25% during the upcoming meeting, with market expectations for two rate cuts within the year [2][3] - Recent disappointing employment data and slowing wage growth are paving the way for potential rate cuts in August and November [3][4] - Wage growth in the private sector has decreased from 6% to nearly 5%, indicating a real cooling of wage pressures [5] Group 2 - The overall inflation situation in the UK remains challenging, with CPI expected to stay above 3% for the year [5] - Service sector inflation rose to 5.4% in April, primarily due to road tax increases and the timing of Easter, but is expected to decrease in the coming months [5][6] - ING predicts that the Bank of England will cut rates again in November, with a final rate of 3.25% by 2026, slightly below market pricing [10] Group 3 - Voting on rate decisions may show some division, with a possibility of a few officials supporting a rate cut this month [6][7] - The meeting is anticipated to result in a vote of 7 to 2 in favor of maintaining the current rate, with potential for a 6 to 3 outcome [7] - The Bank of England has consistently emphasized a "gradual and cautious" approach to monetary policy, which is expected to be reiterated in the upcoming statement [8]

Core Viewpoint - The rapid growth of wages in the U.S. is driving inflation in the service sector, with wages increasing at a rate of over 3% [1] Group 1 - Analysts indicate that businesses are compelled to pass on wage increases to consumers, contributing significantly to inflation in the service industry [1] - The current trend of wage growth and its impact on inflation appears to be consistent with observations over the past 18 months, showing no signs of slowing down [1]

Core Viewpoint - The Chief Economist of the European Central Bank, Philip Lane, expresses confidence that inflation in the services sector will decline [1] Group 1 - The European Central Bank is closely monitoring inflation trends, particularly in the services sector, which has been a significant contributor to overall inflation rates [1] - Lane's comments suggest a positive outlook for the stabilization of prices in the services industry, indicating potential easing of inflationary pressures [1] - The expectation of declining service sector inflation may influence future monetary policy decisions by the European Central Bank [1]

Core Insights - The U.S. Treasury Secretary highlighted a decrease in service sector inflation while noting an increase in gasoline prices [1] Group 1 - Service sector inflation has shown a downward trend, indicating potential easing in overall inflationary pressures [1] - Gasoline prices have experienced an upward movement, which could impact consumer spending and overall economic sentiment [1]