Taiwan Central Bank Expected to Hold Interest Rates Steady Through 2027 
Bank of Japan Holds Rates Steady Amid Iran War Inflation Fears 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
J.P. Morgan Now Expects Two ECB Rate Hikes Amid Inflation Pressures 
Bank of Japan Governor Signals Gradual Progress Toward 2% Inflation Target 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
RBA Rate Decision: Deputy Governor Signals Genuine Debate Ahead of March Meeting 
Inflation for October came out very much as expected. The CPI rose by 0.1% on the month, in line with forecasts. CPIF stood at 1.1% y/y, a tad higher than we had expected (1.0%) but in line with consensus and the Riksbank's view.
Notably, CPIF excluding energy decreased to 1.6% y/y from 1.8% in September. This was in line with the call but 0.1% point below the Riksbank's forecast.
The main surprise was food prices that rose somewhat while economists had expected them to edge down. Mortgage rates fell more than what had been expected, which affect the CPI but not the CPIF. Most other components came out in line with what was expected.
"We expect CPIF-inflation to rise the coming months, mainly due to base effects. Our forecast for the remainder of the year is a tad lower than the Riksbank's view. More important for the Riksbank is that the probability for SEK appreciation is looming, not least as we expect the ECB to take more action in early December. Therefore, we stick to our view that the Riksbank will cut rates in December",says Nordea Bank.
