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The Most Important Central Bank Releases This Week
Five of the G10 currency central banks are active this week, but none have policy meetings or minutes releases. Three Fed policymakers are slated to each deliver multiple speeches, with markets likely to pay most attention to John Williams as he echoes recent Fed neutrality and signals another hike before year-end. The two speeches from ECB policymakers Mersch and Lautenschläger are likely to sound somewhat hawkish—consistent with recent ECB trend. Across the Channel, Andrew Haldane of the BOE is likely to sound hawkish despite the release of two BOE surveys later in the week that will likely reveal underlying weakness in the UK economy partially stemming from ongoing Brexit uncertainty.
Despite the Norges Bank hiking rates last month, inflation in Norway remains elevated due to rising oil prices. This week’s speeches by Governor Olsen will likely reveal his struggle to sound hawkish in the face of slow GDP growth. Down under, RBA policymakers continue to sound less and less optimistic due to global conditions, but, domestically, the Aussie economy remains on solid footing. This week’s speech by Luci Ellis will likely reflect that more hawkish perspective.
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The Prattle Team