Central bank decisions take centre stage this week as investors brace for crucial policy moves that could shape market trajectories for the remainder of 2024. The Federal Reserve, Bank of England, and Bank of Japan are all set to announce their interest rate decisions, potentially marking a turning point in global monetary policy.
This week brings a series of pivotal economic events, from inflation data to retail sales figures across major economies. These indicators offer insights into the current economic climate and influence expectations of potential policy shifts. Monitoring these events closely is crucial, as they will inform central bank decisions and drive market movements in the coming weeks.
Monday, 16th September:
Eurozone Balance of Trade (July): This data for July will provide insight into the region's export and import dynamics.
US NY Empire State Manufacturing Index (September): This index will indicate early manufacturing activity in the New York region.
Tuesday, 17th September:
Canada Inflation (August): This will be closely monitored as it provides insights into Canada's economic landscape and consumer behaviour.
US Retail Sales and Industrial Production (August): These key indicators will provide a snapshot of US consumer spending and manufacturing activity.
Wednesday, 18th September:
UK Inflation (August): This data will reveal the state of inflation in the UK, influencing expectations around Bank of England policy.
US FOMC Interest Rate Decision: The Federal Reserve's decision on interest rates will be closely watched for indications of future monetary policy direction.
Thursday, 19th September:
Bank of England Interest Rate Decision: The BoE's decision on interest rates will be crucial for understanding the UK's monetary policy stance.
US Philadelphia Fed Manufacturing Index (September): This index will provide insights into manufacturing activity in the Philadelphia region.
Friday, 20th September:
Bank of Japan Interest Rate Decision: This decision will be closely watched for changes in monetary policy, especially given the shift away from ultra-loose policy.
Canada Retail Sales (July): This data will provide information on consumer spending in Canada.
Investors must stay informed as we progress into a week filled with critical economic data releases and central bank decisions. The Federal Reserve, Bank of England, and Bank of Japan meetings are noteworthy events that could significantly impact sentiment and market behaviour towards the end of 2024.