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Central banks around world prepare to make major decisions amid various economic indicators
(MENAFN) In Canada, the bank of Canada is anticipated to lower interest rates for the third consecutive time. This move is expected as inflation has remained within the central bank's target range throughout the year, shifting the focus of policymakers to addressing weaknesses in the labor market. The ongoing stability in inflation has provided the Bank of Canada with the leeway to adjust monetary policy in response to labor market conditions.
In Europe, the Eurozone's policymakers have until the end of Wednesday to submit their comments before entering a blackout period ahead of their monetary policy decision on September 12. Given that inflation in the Eurozone has reached a three-year low, there is growing speculation that the European Central Bank may implement a second rate cut as part of a new round of monetary easing. The heads of the German and French central banks are expected to participate in this critical meeting. Additionally, data releases from Germany will be closely watched, including factory orders and industrial production figures, which will offer insights into the health of the manufacturing sector as the third quarter begins. The Eurozone will also release its second-quarter GDP measure, providing further context on regional economic performance.
In the UK, data releases are expected to be relatively quiet, with final estimates of August’s purchasing managers’ indexes (PMIs) for manufacturing and services sectors scheduled for Monday and Wednesday, respectively. Meanwhile, consumer price data from Switzerland will be in focus, as it may influence the Swiss National Bank’s upcoming interest rate decision. Inflation in Switzerland is anticipated to remain at 1.3 percent, well below the 2 percent ceiling, potentially easing pressure on policymakers. In Poland, recent data showed the fastest inflation rate of the year as of August 30. The central bank is projected to maintain its key interest rate at 5.75 percent during its meeting on Wednesday, with Governor Adam Glapinski scheduled to address the media the following day.
In Europe, the Eurozone's policymakers have until the end of Wednesday to submit their comments before entering a blackout period ahead of their monetary policy decision on September 12. Given that inflation in the Eurozone has reached a three-year low, there is growing speculation that the European Central Bank may implement a second rate cut as part of a new round of monetary easing. The heads of the German and French central banks are expected to participate in this critical meeting. Additionally, data releases from Germany will be closely watched, including factory orders and industrial production figures, which will offer insights into the health of the manufacturing sector as the third quarter begins. The Eurozone will also release its second-quarter GDP measure, providing further context on regional economic performance.
In the UK, data releases are expected to be relatively quiet, with final estimates of August’s purchasing managers’ indexes (PMIs) for manufacturing and services sectors scheduled for Monday and Wednesday, respectively. Meanwhile, consumer price data from Switzerland will be in focus, as it may influence the Swiss National Bank’s upcoming interest rate decision. Inflation in Switzerland is anticipated to remain at 1.3 percent, well below the 2 percent ceiling, potentially easing pressure on policymakers. In Poland, recent data showed the fastest inflation rate of the year as of August 30. The central bank is projected to maintain its key interest rate at 5.75 percent during its meeting on Wednesday, with Governor Adam Glapinski scheduled to address the media the following day.
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