Global stocks lose momentum as higher inflation dents rate cut hopes

Global stocks lost some of their upwards momentum as hotter than anticipated inflation reports dampened expectations of interest rates cuts ahead of key central bank meetings this week. The blue-chip S&P 500 and technology focussed Nasdaq indices gained 0.6% and 0.5% respectively.

On Tuesday it was revealed that annual US consumer price inflation unexpectedly accelerated in February to 3.2% and further away from the Federal Reserve’s 2% target rate. The increase was driven by higher accommodation costs, as well as prices for services such as healthcare and motor insurance.

A couple of days later, the US Producer Price Index report for February also exceeded forecasts. Wholesale prices increased 1.6% from a year earlier, the fastest rate since September, on the back of higher fuel and food costs.

TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.

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