Stockholm (Ekonamik) – This week will be dominated by the meeting of the FOMC, the committee of the federal reserve system that decides interest rates for the USA. Market analysts widely expect a rate cut. “We expect the Federal Open Market Committee (FOMC) to lower the federal funds rate with 25 basis points (bps) to 1.75-2.00 per cent at the next meeting on September 18,” forecasted Robin Ahlén at Swedbank Research “In July when the Fed conducted a ‘midcycle adjustment’, they justified the rate cut due to signs of weakening economic activity, elevated global uncertainties and concerns for the inflation outlook”.
Other central banks meeting this week will include those from Norway, the UK, Pakistan, Brazil, Switzerland, South African, Japan, Taiwan. Itau expects another 50bps cut from Brazil’s COPOM, on the backdrop of subdued economic performance. Danske Bank expects Norges Bank to increase rates by 25bps.
Otherwise, the main macroeconomic data release will be inflation figures for Eurozone, South Africa, Japan, Italy and the UK.
| 16/09/2019 | Monday | SBP interest rate meeting (Pakistan) |
| NY Empire State Manufacturing Index (USA) (September) |
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| CPI Inflation (Italy) (August) |
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| ECB Speech (€Z) (Coeure, Lane) |
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| Fixed Asset Investment (China) (August) |
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| Unemployment Rate (Turkey) (June) |
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| Industrial Production (Russia) (August) |
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| Bond Issuance (Lithuania, Slovakia) |
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| ZEW Economic Sentiment (€Z, Germany) (September) |
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| 17/09/2019 | Tuesday | Industrial Production index (USA) (August) |
| NAHB Housing Market Index (USA) (September) |
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| 18/09/2019 | Wednesday | Fed interest rate meeting (USA) |
| CBB interest rate meeting (Brazil) |
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| CPI inflation (€Z, South Africa, UK) (August) |
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| Unemployment rate (Russia)(August) |
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| GDP Growth (Russia) (August) |
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| Bond Issuance (Germany) |
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| 19/09/2019 | Thursday | Norges Bank interest rate meeting (Norway) |
| BoE interest rate meeting (UK) |
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| BoJ interest rate meeting (Japan) |
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| RBSA interest rate meeting (South Africa) |
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| SNB interest rate meeting (Switzerland) |
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| BI interest rate meeting (Indonesia) |
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| CBRC interest rate meeting (Taiwan) |
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| Unemployment rate (Argentina, Australia) (2019Q2, August) |
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| Bond Issuance (Hungary, Poland, Spain, France) |
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| 20/09/2019 | Friday | BoM interest rate meeting (Mongolia) |
| BoG interest rate meeting (Ghana) |
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| CPI Inflation (Japan) (August) |
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| Foreign Exchange Reserves (India) (September) |
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