St. Louis Fed President James Bullard said that the central bank needed to go much further in raising rates. Bullard’s comments are all the more surprising given that there is clear evidence that inflationary pressure is starting to slow more than expected. The recovery off the lows of the day in the US looks set to see markets here in Europe open modestly higher. The focus today remains on the UK economy, with the latest October retail sales numbers expected to see a rise of 0.5%. Retail sales numbers are expected to be disappointing, with consumer confidence already at or close to record lows, with consumers holding back ahead of the end of the year and the Christmas period. The FTSE is expected to open 16 points higher at 7,362 . . .
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