(Bloomberg) -- The world economy’s tectonic plates will shift this week when a US easing cycle begins, just as officials from Europe to Asia set policy...
-- The world economy ’s tectonic plates will shift this week when a US easing cycle begins, just as officials from Europe to Asia set policy against a backdrop of brittle markets.The Hague Is World’s First City to Ban Oil and Air Travel Ads
The Fed decision will take center stage, with jittery traders debating whether officials will judge a quarter-point cut to be adequate medicine for an economy showing signs of losing momentum, or whether they’ll opt for a half-point move instead. Clues on the Fed’s future intentions will also be pivotal.
Click here for what happened in the past week, and below is our wrap of what’s coming up in the global economy.When Fed policymakers sit down Tuesday for the start of their two-day meeting, they’ll have fresh figures on the state of consumer demand. While overall retail sales in August were likely held back by slower activity at auto dealers, receipts at other merchants probably posted a healthy advance.
On the data front, Japan’s key consumer inflation gauge is seen ticking higher a tad in August, backing the case for the BOJ to eye a rate hike in coming months. Norges Bank is seen keeping its deposit rate at 4.5%, with analysts focusing on any adjustments to projections for easing early next year. While slowing inflation has increased bets on a first cut in December, Norwegian officials may stick to their hawkish stance with the labor market robust and the krone near multi-year lows.Turning south, Turkey’s central bank is set to keep its key rate at 50% for a sixth straight meeting as it waits for inflation to slow further.
Elsewhere, comments from European Central Bank officials may be scrutinized for any hints on the path of future easing after a second cut to borrowing costs. Several governors are scheduled to appear, and President Christine Lagarde will deliver a speech in Washington on Friday. The measures were part of reforms introduced by President Bola Tinubu after he took office in May 2023.Brazil’s central bank meets against the backdrop of an overheating economy, above-target inflation, unmoored CPI expectations and government fiscal largesse.
Paraguay’s rate setters meet with inflation running slightly above the 4% target. Analysts surveyed by the central bank see a 25 basis-point cut by year-end.
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