In Switzerland And Japan, Rates Have Reached The Forecasted Levels. What Will Be The Bank Of England Decision?
Aa
Share
After yesterday's Fed decision, today also is a day full of important information. Three banks' decisions on rates. And speeches by ECB members.
Bank Of Japan Interest Rate Decison
The first decisions on rates today were made in Japan. The Bank of Japan decided to keep the rate at -0.10%.
In Japan, the Core CPI also recovered to 1.9%, thus reaching the forecast level. The previous result for the change in the price of goods and services purchased by consumers, excluding food and energy was at the level of 1.8%.
At 8:30 CET there will be a press conference of the Bank of Japan, where we can learn more details about the current activities of the country's monetary policy.
Switzerland Interest Rate Decision
As forecasted, interest rates rose to 0.50%.
For over 5 years, interest rates have remained steadily at -0.75%. Last quarter (Q2) there was the first change of decision regarding the level. Swiss National Bank (SNB) in June this year will decide to raise the rate to -0.25%. The last such high level was after the Global Financial Crisis. In 2008, the rates were at the level of 2.75% and they were gradually falling. Now the trend has turned.
You can find out more about the decision at the press conference.
The ECB’s Economic Bulletin and ECB Members speeches
The European Central Bank's (ECB) Economic Bulletin contains the statistical data that policymakers evaluate when setting interest rates. The Economic Bulletin is published two weeks after the monetary policy meeting of the Governing Council of the ECB. This newsletter contains the current analyzes and forecasts.
The European Central Bank Supervisory Board Member Edouard Fernandez-Bollo is set to speak at 10:10 CET. In his speech can clarify certain aspects of the financial regulation in the eurozone.
The next speaker will be Supervisory Board Member Anneli Tuominen. The speech is set at 10:45 CET.
Bank of England Interest Rate Decison
At 13:00 CET the Bank of England will announce its decision on interest rates. This will be the third such decision today. After the recent negative data from the island, experts expect rates to rise to 2.25%. This decision should have been announced a week in advance, but was postponed in connection with the death of Queen Elizabeth II.
Speaking of the Great Britain, we were awaiting Bank of England decision this week, which I have commented in my Sunday’s article.
U.S. Initial Jobless Claims
As every week, America will publish a report on the number of individuals who filed for unemployment insurance for the first time during the past week. From the second half of August, this number dropped from week to week. Even though last week there was another drop to 213K, this week it is forecasted to recover to 218K. The official report will be published at 14:30 CET
Source: investing.com
Summary
- 4:51 CET Bank of Japan Interest Rate Decison
- 8:30 CET BoJ Press Conference
- 9:30 CET Switzerland Interest Rate Decision
- 10:00 CET SNB Press Conference
- 10:00 CET ECB Economic Bulletin
- 10:10 CET ECB Supervisory Board Member Fernandez-Bollo Speaks
- 10:45 CET ECB Supervisory Board Member Tuominen Speaks
- 13:00 CET Bank of England Interest Rate Decison
- 14:30 CET U.S. Initial Jobless Claims
Source: https://www.investing.com/economic-calendar/
