Central Banks Host Conference on Economic Expectations

Global economic conditions are fluctuating, with tensions in the Middle East affecting oil prices and the New Zealand dollar. Dairy prices saw a slight increase in USD terms, but overall prices fell in NZD. In Japan, business sentiment among large manufacturers remained stable, reflecting optimism despite economic pressures, while tourism is rebounding. The Bank of England is concerned about rising inflation expectations, as indicated by a new business survey, although its own pricing intentions survey shows a decline. In Turkey, household inflation expectations have decreased, yet discrepancies remain between public and central bank forecasts. Meanwhile, central banks are collaborating on research related to expectations surveys, emphasizing the importance of economic outlooks.