Fourth-quarter GDP revised down to just 0.7% growth; January core inflation was 3.1%

The downward revision of growth data, which came in lower than expected, indicates a noticeable slowdown in economic activity. Meanwhile, the persistence of high core inflation continues to exert pressure on monetary policy. This combination, by simultaneously raising concerns about growth and inflationary pressures, could create selling pressure, particularly in domestic markets and on risk assets. Increased market volatility is likely in the short term.