While Great Britain, Japan, Australia, and Canada are all set to release some pretty important data this week, the Federal Reserve’s interest rate decision this Thursday will surely rise uber alles.
Here’s what you should expect this week:
Monday will be quiet as the storm kicks off the following day, Tuesday, beginning with the Reserve Bank of Australia who’ll be publishing the minutes of their June meeting around 9:30 am, followed by Britain’s May year-on-year inflation rate figures at 4:30 pm, and ends with Germany’s June’s Zew Economic Sentiment Index which will be released shortly after at 5 pm. The Federal Reserve meanwhile, will begin their two-day rate deliberations that day.
Wednesday will see Japan’s May balance of trade data around 8 am. Economists are expecting the nation’s deficit to have continued grown even further. Later that day, the Bank of England is expected to publish the minutes of their monetary policy committee meeting, their April unemployment rate data, as well as their May claimant count change at 4:30 pm. Analysts are expecting English unemployment to remain unchanged while claimant count change is expected to have slightly decreased.
Thursday meanwhile begins with the Federal Reserve’s interest rate policy decision at 2 am. While they’re unlikely to hike rates this soon, they are also set to release their updated “dot plot” forecasts, a highly scrutinized tool which shows each policymaker’s future expectation of the Fed funds rate. Fed chair Janet Yellen is also expected to hold a conference shortly after. The Swiss National Bank is also scheduled to reveal their interest rate decision at 3:30 pm, followed by a press conference with President Thomas Jordan. It is widely expected that the SNB will keep rates unchanged. At 8:30 pm, the U.S. will be announcing inflation rate data for the month of May, with analysts expecting CPI to nudge up slightly.
On Friday, the Bank of Japan will be announcing their interest rate decision at 10 am, followed by a press conference with Governor Haruhiko Kuroda. As with the other central banks, analysts expect the BoJ to keep rates steady. Capping the week will be Canada, who will be releasing their May inflation rate figures at 8:30 pm. Canadian CPI forecasts predict a slight cooling in their inflation rates.
Photo credit: Marina Kyriacou via Flickr