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The Most Important Central Bank Releases This Week
Seven of the G10 currency central banks are active this week with four policy meetings, one of which is likely to result in a rate hike. Out of these, the Bank of Canada could be the biggest market mover, as policymakers may counter the anticipated 25bps rate hike with dovish remarks. ECB policymakers are likely to leave rates unchanged but could sound defiantly hawkish in the face of ongoing Italian uncertainty. Both the Norges Bank and the Riksbank are likely to hold rates and issue somewhat hawkish remarks.
In the U.S., the five Fed policymakers slated to speak this week are likely to err slightly dovish, even though a December hike remains likely. That said, at least a couple Fed policymakers are likely to make not-so-veiled references to the need for Fed independence in the face of persistent pressure from President Trump to maintain low rates. RBA speakers, who are similarly chatty this week, are likely to convey a neutral or somewhat dovish message reflecting both a solid Aussie economy and ongoing trade concerns. The BOE is a bit quieter this week; their only scheduled speaker, Sam Woods, is likely to maintain the somewhat dovish tone of recent BOE communications.
This is an abbreviated version of the Cyborg Analyst. The full weekly report contains detailed analysis based on Prattle’s Central Bank Analytics. Subscribe here.
The Prattle Team