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The Most Important Central Bank Releases This Week
Summer is in full swing in the northern hemisphere, but central bankers are not taking a vacation just yet. The Fed and ECB both have full schedules this week consisting of policymaker speeches that are likely to sound somewhat hawkish. Despite all of this chatter, the biggest market mover of the week is likely to be the Bank of Canada, where policymakers are likely to hike rates 25bps during their meeting on Wednesday. In keeping with recent BOC trend, this hike may be accompanied by somewhat dovish remarks.
The BOE releases its Bank Liabilities and Credit Conditions surveys this week, along with a speech by Jon Cunliffe. Neither survey is likely to be particularly optimistic, so Cunliffe will have his work cut out for him if he intends to signal that a late summer rate hike remains a possibility. In Sweden, the Riksbank will release the minutes from last week’s policy meeting. These minutes are likely to score neutral as Riksbank sentiment continues to rise from very dovish toward neutral, perhaps even breaking into hawkish territory by this fall if this trend continues.
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The Prattle Team