MILAN – Chinese markets are hanging on the words of an official who is opening up to possible support for the economy, but only after four sessions of sharp declines do they manage to reverse course to a certain point: in the end, Shanghai and Shenzhen give in to the selling . Europe starts weakly: the words of Fed President Jerome Powell are being digested in the West, who has promised a rate cut but rejected the hypothesis that it could happen as early as March. Kevin Thozet of Carmignac noted that “the Goldilocks scenario is in full swing,” that is, that of a balance of moderate growth and falling inflation. “The narrative of complete disinflation, which is progressing faster than expected, appears to be confirmed,” he wrote, recalling that “there is every reason to start adopting more accommodative policies if necessary, given the current key interest rates,” well above the neutral level .” But Powell “will probably want to avoid becoming one.” Market movers. The Fed is downplaying the likelihood of a rate cut in March. Instead, they will stick to a plan based on dependence on economic indicators. In fact, two more inflation data and two labor market releases are expected before the next meeting in March.

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