(Bloomberg) -- The Federal Reserve’s preferred price metric and a snapshot of consumer demand are seen corroborating both the central bank’s aggressive...
-- The Federal Reserve ’s preferred price metric and a snapshot of consumer demand are seen corroborating both the central bank ’s aggressive interest-rate cut and Chair Jerome Powell’s view that the economy remains strong.California’s Anti-Speeding Bill Can Be a Traffic Safety BreakthroughEconomists see the personal consumption expenditures price index rising just 0.1% in August for the second time in three months. The inflation gauge probably climbed 2.
The August inflation figures will be accompanied by data on personal spending and income, and economists project another solid advance in household outlays. Sustained consumer spending growth helps raise the chances that the economy will continue expanding.Other economic data include August new-home sales, second-quarter gross domestic product along with annual GDP revisions back to 2019, weekly jobless claims, and August orders for durable goods.
Click here for what happened in the past week and below is our wrap of what’s coming up in the global economy.The Reserve Bank of Australia is expected to keep its cash rate target unchanged at 4.35% when the board meets on Tuesday, with the focus likely to fall on whether Governor Michele Bullock retains her hawkish tone after solid labor figures prompted traders to pare bets on a December rate cut.
Purchasing manager indexes for September are due from Australia and India on Monday and from Japan a day later. The current guidance is for two or three more moves in 2024 — including on Wednesday. Policymakers talked about a half-point cut at last month’s meeting, and while that discussion could come up again, most economists believe the central bank would more likely wait until November to do a bigger move.
Readings of French and Spanish inflation for September will draw attention on Friday, hinting at the overall outcome for the region due the following week. Economists predict both countries’ readings will drop below 2%. Elsewhere, Zambia’s Finance Minister Situmbeko Musokotwane will on Friday announce plans to help the economy bounce back from one of the toughest years it’s faced this century when he unveils his 2025 budget for Africa’s second largest copper producer.Brazil watchers will have a lot to digest, with minutes of the central bank’s September rate meeting and a quarterly inflation report taking center stage.
In Mexico, downshifting domestic demand may see another set of soft retail sales prints — on the heels of June’s negative annual and monthly readings — while mid-month inflation data aren’t likely to provide policymakers with a slam dunk cause to cut or hold when Banxico meets a few days later.
Personal Consumption Expenditures Price Index Unemployment Rate Central Bank The Federal Reserve
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