In the US, inflation data was hotter than anticipated at 3.1% for January (2.9% forecasted). This caused a rethink of when the Fed might begin rate cuts. Stocks sold-off following the data but recovered, helped by UK CPI data which unexpectedly showed annual inflation held steady at 4% in January. Even with weaker-than-anticipated US retail sales data on Thursday, the majority of investors are now looking at a date beyond May for the first cut. With the US economy remaining strong some Fed officials have commented that there is no rush to lower rates just yet.
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https://realmim.com/markets-rethink-the-likely-date-that-fed-will-start-cutting-rates/
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