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The gain in the Federal Reserve’s preferred inflation measure will probably average nearly 2.7% during the four quarters starting in April, according to economists surveyed by Wolters Kluwer.

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Europe is prepared to act in response to possible restrictions to trade, German Economy Minister Robert Habeck said on Monday, after holding discussions with industry lobbies and the EU's top trade representative about the threat of tariffs from the U.S. Habeck held a roundtable with industry on future trans-Atlantic relations on Monday and spoke with EU trade commissioner Maros Sefcovic on the phone, according to the statement.

Sentiment is at its lowest point since July, as consumers feel uncertain about the current state of the economy, according to a Wells Fargo report.

Mexico's inflationary environment is expected to allow policymakers to keep cutting the benchmark interest rate, the head of the Bank of Mexico told Reuters, as the fight to bring down inflation has entered a new phase. Banxico, as the Mexican central bank is known, cut the key rate by 50 basis points to 9.50% on Thursday, double the 25-basis-point cuts it had made since it began lowering borrowing costs from a record high of 11.25% in March 2024. Last week's rate reduction brought Mexico's interest rate to its lowest since September 2022 as annual inflation in Latin America's second-biggest economy slowed to 3.69% in the first half of January.

BP shares have surged after it emerged that activist hedge fund Elliott has built a stake in the oil giant.