The focus in the April 3 week will be on labor market data, just how tight employment remained at the end of the first quarter 2023 and what that means for the economic outlook and monetary policy
There are few reports with market-moving potential in the March 27 week. Most of the data will add a nuance to what is already known regarding conditions in the housing market in February, the state [...]
Recent interest rate hikes by several major central banks clearly underline the determination of the monetary authorities to get inflation back under control. However, for now, QT may have to run alongside central bank liquidity injections to reassure investors that another global financial crisis is not just around the corner.
In line with most other major central banks, the SNB had been expected to extend its tightening cycle this week. Having last raised its policy rate by 50 basis points to 1.0 percent in December, [...]
The March BoE MPC meeting had been widely expected to deliver an eleventh successive increase in Bank Rate with the majority of forecasters looking for a 25 basis point hike in the benchmark rate to [...]
There is little doubt that the coming will be tightly focused on the FOMC meeting on Tuesday and Wednesday. The release of the meeting statement at 14:00 ET on Wednesday will settle speculation about whether [...]
A recap of this week's economic events.
In terms of policy, Thursday’s announcement should be something of a damp squib. Although supposedly no longer offering forward guidance, the February statement made it clear that the ECB intends to raise its key interest [...]
Note: The following was written before the news of the failure of Silicon Valley Bank (SVB). This is the sort of exogenous event that throws the near-term outlook for monetary policy into uncertainty. The question [...]
Fed Chair Jerome Powell is scheduled to deliver the semiannual monetary policy testimony – by old habit often called the Humphrey-Hawkins testimony – at 10:00 EST on Tuesday before the Senate Banking Committee and on [...]
