The upcoming week from June 24th to June 28th is packed with significant economic events around the world. Let’s take a look at some key events that will shape the global economic landscape.
Starting off on Monday, the Bank of Japan (BoJ) will release the Summary of Opinions from its June meeting, providing insights into the board members’ thinking. The BoJ surprised markets by defying expectations for an immediate tapering of its bond purchases. Instead, it decided to keep purchases in line with its decision in March, with plans to reduce purchases in the next 1-2 years. This decision was made by an 8-1 vote, with one member dissenting.
Moving on to Tuesday, Canada will release its Consumer Price Index (CPI) data for May. The Bank of Canada (BoC) recently cut rates by 25bps to 4.75%, citing easing underlying inflation. The BoC remains committed to restoring price stability and monitoring core inflation closely.
Wednesday will see the release of Australia’s CPI data for May. Analysts expect a slight increase to 3.8%, shedding light on services inflation trends. The Reserve Bank of Australia (RBA) has maintained a hawkish tone on inflation, emphasizing its persistence above target.
Thursday will be a busy day with the much-anticipated debate between President Biden and former President Trump. This debate will be crucial ahead of the November election, with polls showing mixed results in key swing states. The market impact of the debate will focus on policy initiatives that could impact growth, inflation, and interest rates.
Also on Thursday, the Central Bank of the Republic of Turkey (CBRT) is expected to maintain its Weekly Repo Rate at 50%. The CBRT aims to establish disinflation in the second half of the year, with analysts predicting a potential easing cycle in early 2025.
Finally, on Friday, the US Personal Consumption Expenditures (PCE) data for May will be released. Analysts expect a slight decrease in the core PCE inflation rate, aligning with the Federal Reserve’s updated economic projections. The Fed has signaled modest progress on inflation but remains cautious about endorsing rate cuts until further data confirms sustainable price stability.
Overall, the upcoming week is filled with economic events that will provide valuable insights into the global economic outlook. From central bank decisions to political debates, these events will shape market expectations and policy trajectories in the weeks to come. Stay tuned for more updates on these key developments.
