Wu Shuo This Week's Macro Indicators and Analysis: Iran's 48-Hour Ultimatum, Inflation and Consumer Confidence

WuSaidBlockchainW · 2026-03-22T16:29:36+00:00

Wu Shuo Blockchain analyzed last week's situation where the US, Japanese, and European central banks maintained interest rates unchanged, while US PPI exceeded expectations. Key focus areas include Trump's ultimatum to Iran and this week's US inflation and consumer confidence data.

WuSaidBlockchainW

2026-03-22 16:29:36

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Compilation: GaryMa Wu on Blockchain

Summary Wu’s weekly macro indicators and analysis: Last week, the central banks of the US, Japan, and Europe all kept interest rates unchanged. US PPI exceeded expectations; this week, focus on Trump’s 48-hour ultimatum to Iran and US inflation consumer confidence.

Last Week in Review

The Federal Reserve announced its upper limit interest rate at 3.75%, in line with expectations, with the previous rate also at 3.75%, and rates remaining unchanged. The median dot plot for interest rates was unchanged, with the divergence between rate hikes and cuts still at 12 to 7. Meanwhile, the median forecast for core PCE inflation was raised from 2.5% to 2.7%, and the long-term interest rate forecast was increased to 3.1%.

US February PPI rose 3.4% year-over-year, surpassing the 2.9% market expectation, reaching the highest level since February last year.

Bank of Japan Governor Ueda Kazuo stated at a press conference on March 19 that due to increased risk scenarios, the central bank decided not to raise interest rates at Thursday’s meeting. Hawkish board member Takata Kazuo reiterated his January proposal to raise rates to 1.0%, which was not approved at the time.

For the week ending March 14, US initial jobless claims totaled 205,000, below the expected 215,000 and the previous 213,000, marking the lowest since the week of January 10.

The European Central Bank kept its three main interest rates unchanged, meeting market expectations for the sixth consecutive meeting. The deposit facility rate, main refinancing rate, and marginal lending rate remained at 2%, 2.15%, and 2.40%, respectively.

Key Events & Indicators This Week March 23

Trump issues 48-hour ultimatum to Iran

March 26

US initial jobless claims for the week ending March 21 (in ten thousand units) (20:30)

March 27

US March University of Michigan Consumer Sentiment Final Index (22:00)

US March one-year inflation expectation final (22:00)

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