Daily Economic Outlook: Lloyds Bank

The day's slew of central bank speakers is likely to provide the key focus. Domestically, following last week's speech from BoE Chief Economist Andy Haldane articulating the 'insurance' case for the easing of monetary policy, his comments today are also likely to be keenly scrutinised.

While his point of view has apparently not attracted public converts on the rest of the MPC - with Shafik, Forbes and Miles all stating this week they consider the likely next move in UK rates to be up, and the relatively hawkish stance of Weale and McCafferty well-known - a speech from Ben Broadbent may give further context on the views among the remaining internal members. 

And while the text of Governor Carney's remarks is not expected to be released, he may also feel compelled to publicly add to the cacophony of recent MPC member rhetoric.  

Comments from the Fed's Vice Chair Fischer and finally Chair Yellen - the latter after the close of European markets - may also add fuel to the US monetary policy debate.

Data-wise, the principal focus is likely to be on the 3rd estimate of US GDP data for 2014 Q4. Expectations are for a modest upward revision to current estimate of an annualized 2.2% pace, reflecting new data on personal healthcare expenditures. However, the release covers the period prior to the recent soft patch in US data - potentially reflecting the impact of adverse weather - that is of pivotal interest to the current policy outlook.

The final estimates of the University of Michigan sentiment survey for March amy therefore provide some timelier context for the US economic conjuncture.