In the US, retail sales data may show solid growth for December as consumer confidence was buoyed by rising equity markets. In the UK, sticky services inflation will be in focus, as this could delay a Bank of England rate cut until the summer. And in Poland, we forecast the initial estimate of December CPI inflation to be confirmed at 6.1%. US: Retail sales are likely to have grown solidly in December Even though the December jobs and inflation numbers came in somewhat hotter than expected, financial markets continue to gun for rate cuts, with 150bp priced for the end of 2024. We expect reasonably firm data again ... (full story)