Stocks Rebound Tentatively After Inflation Spike While Central Banks Weigh Policy Responses
• US stock futures edge higher after sharp sell-off triggered by hotter than expected inflation data • UK inflation lower than forecast in January, boosting hopes for Bank of England rate cuts • Swap traders scale back expectations for Fed rate cuts in 2023 after latest US CPI data • Japan's top currency official cautions on rapid yen moves, authorities stand ready to intervene • Oil steadies after mixed US inventory report; OPEC and IEA offer contrasting crude market outlooks