Top-of-mind economic news as we start the week:
— US consumer prices rose at an 8.5% annualized rate in March, highest level since 1981; food, energy price increases slowed, indicating potential peak.
— Odds of a US recession in next 12 months are forecast at 28% up from 13% last year, per economists surveyed by Wall Street Journal.
— US homebuilding sentiment fell to a six-month low in April on increase in mortgage rates, elevated construction costs and housing prices.
— China cut reserve requirements for domestic banks, releasing about $83 billion into its economy to counter a downturn in economic growth.
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