Key Events In Developed Markets Next Week - Saturday, May 29

Canada’s GDP will rebound sharply on the back of a good performing vaccine programme and economic resilience that has even surprised the central bank. A decent jobs figure is also likely, and this could fuel expectations of a third quantitative easing taper announcement from the central bank in July.

Eurozone: Inflation and unemployment data in focus

Eurozone inflation will be a key figure for next week because it’s the last major data point ahead of the closely watched European Central Bank meeting on 10 June. Expect it to rise further on base effects but also look for the reopening impact on services inflation and input shortages working their way through to goods inflation figures. Selling price expectations among manufacturing businesses are at an all-time high, meaning that some passthrough can be expected over the coming months.

Also relevant will be the unemployment numbers for April. This will provide a good snapshot of the labour market recovery and will be relevant for the ECB's medium-term outlook.

Developed Markets Economic Calendar

Source: ING, Refinitiv

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Disclaimer: This publication has been prepared by the Economic and Financial Analysis Division of ING Bank N.V. (“ING”) solely for information purposes without regard to any ...

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