The Divergence in the UK and Europe

In the UK it's a fairly big week. The labour market report for banking and we'll be watching that very closely because wages are running pretty hot at the moment. We also have monthly GDP data. I wouldn't be surprised to see some weakness there, but that's probably largely bank holiday related as we did have the King's coronation last month. In the euro area we have some activity data, we have the centric survey and the ZEW survey both in the same week and euro area IP. That'll be important to see how the Ricksbank become more hawkish or they still dovish. Let's zoom in on those Scandinavian CPI data. So Norway's CPI