Busy week for central banks as Fed, BoE and BoJ set interest rates

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Hello and welcome to the work week.

This week central bank governors will be in the spotlight with three major interest rate announcements in consecutive days.

Federal Reserve Chairman Jay Powell will kick things off on Wednesday when the Federal Open Market Committee announces its rate decision. He is widely expected to announce that the Fed will keep interest rates at 5.5%.

Although a 25 basis point rate hike is possible, Thursday’s statement from Bank of England Andrew Bailey created more uncertainty. The Bank of England will be heavily influenced by UK inflation data released the day before the Monetary Policy Committee meeting, with headline interest rates expected to rise slightly from last month.

On Friday it’s the Bank of Japan’s turn. The most likely option is no change, but Governor Kazuo Ueda last week raised the possibility of ending the period of negative interest rates by the end of the year.

Another week, another tech IPO, or two.After Arm’s successful first day of trading in New York last Thursday, it’s now the turn Instant shopping cart and Clavijo, both companies will announce final pricing ahead of the U.S. launch on Monday. Does this herald a resurgence in IPOs? Get the backstory here.

The main earnings theme (results are light this week) will be retail, mainly from the UK, kingfisher, Next and Ocado All reports. Expectations are not high as this year’s rainy British summer – at least wetter than last year – has been blamed for keeping shoppers away from the high street in August. Kingfisher investors are looking to the DIY chain’s latest strategy to open new stores while increasing the percentage of online sales.

One of the most surprising political diary events of the week will be talks between British opposition Labor leader Sir Keir Starmer and French President Emmanuel Macron at the Elysee Palace on Tuesday. This PR coup for Starmer will allow him to demonstrate his foreign policy objectives while boosting his credentials as prime minister-elect.

If you haven’t read it yet, I recommend the cover article in Financial Times Magazine explaining why UK Prime Minister Rishi Sunak thinks he can still win the next general election.

We welcome your thoughts on what matters most this week. Please email jonathan.moules@ft.com or click reply if you have received this message in your inbox.

And one more thing. . .

From a meteorological perspective, autumn is just around the corner in the Northern Hemisphere. This is a final glimpse of summer and a post I wrote about the joys of taking the family by train to Greece.

Key economic and company reports

Here’s a more complete list of company reports and economic data expectations for this week.

on Monday

• Former UK Prime Minister Liz Truss speaks on the state of the UK economy at an Institute for Government online event

• Michelle Bullock becomes Reserve Bank of Australia In July, Finance Minister Jim Chalmers appointed Philip Lowe to succeed her as governor.

• Instant shopping cart and Clavijo Final pricing for IPO expected to be announced in New York

• Japan: Respect for the Aged Day.Financial markets closed

• UK: Rightmove House Price Index September

• result: Phoenix Group H1, S4 Capital H1

Tuesday

• OECD medium-term economic outlook report

• EU: August Consumer Price Index (CPI) and Harmonized Consumer Price Index (HICP) inflation data

• result: automatic zone Q4, Hargreaves Landown fiscal year, kingfisher H1, Moon Pig Trading update ahead of AGM, naked wine fiscal year, Ocado Third Quarter Transaction Statement, Sigma Healthcare H1, Tui Transaction updates

Wednesday

• China: Policy rate decision

• UK: August CPI and Retail Price Index (RPI) inflation data.In addition, the National Bureau of Statistics house price index

• United States: Federal Open Market Committee Rate Announcement

• result: Dunelm fiscal year, fedex Q1, galliford try fiscal year, general mills Q1, morning light H1, Medio Bank fiscal year, OVS H1, Oxford Biomedical Corporation H1, Top ten entertainment H1

Thursday

• EU: September consumer confidence index preview

• UK: Bank of England Monetary Policy Committee Interest Rate Announcement.Additionally, public sector net borrowing data

• result: CVS fiscal year, Darden Restaurant Q1, DFS Furniture fiscal year, JD Sports H1, Next H1, SSP Group Transaction updates

Friday

• EU, France, Germany, Japan, UK, US: September S&P Global/Cips Manufacturing and Services Purchasing Managers Index (PMI)

• Japan: Bank of Japan Monetary Policy Committee Interest Rate Announcement

• UK: August retail sales data

• result: Investec Transaction updates

world events

Finally, here’s an overview of the week’s other events and milestones.

on Monday

• UK: Ninth anniversary of Scottish independence referendum.Separately, hundreds of journalists working for regional newspaper publisher The National World in Scotland and elsewhere in the country will go on strike over wages.

• US: Prince William begins a two-day visit to New York ahead of tomorrow’s Earthshot Prize Innovation Summit, taking place during New York Climate Week and on the same day as the opening of the 78th United Nations General Assembly

Tuesday

• France: British Labor leader Sir Keir Starmer will meet French President Emmanuel Macron at the Elysee Palace in Paris

• Italy/UK: Milan Fashion Week begins, London Fashion Week ends

Wednesday

• France: King Charles and Queen Camilla arrive in Paris for three-day state visit, postponed as protests over pension reform turn violent

• UK: Junior doctors and senior hospital consultants to strike for first time in England over pay dispute

Thursday

• Financial Times Business Book of the Year shortlist announced

• UK: National Center for Social Research releases its 40th Annual British Social Attitudes Surveyrevealing changes in social, political and moral attitudes

Friday

Saturday

• With the arrival of the autumnal equinox, autumn officially begins

• China: The 19th Asian Games, postponed from September 2022 due to coronavirus restrictions, opens in Hangzhou.The event will last until October 8

• UK: Liberal Democrats autumn conference opens in Bournemouth

Sunday

• Jewish observances of Yom Kippur begin

• UK: Annual sheep crossing over London Bridge