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The Fed is Not Alone

Date: Monday, April 29, 2019 2:11 PM EDT

On Wednesday, while no change is anticipated, the FOMC’s rate decision and Fed Chair Powell’s subsequent presser are sure to be closely watched by markets.  Investors will attempt to get a read on the Fed’s tone following some more positive shifts in economic data and equity markets since the beginning of the year.  Over the next two weeks, the Fed is not alone though; like earnings and general economic data, it will also be busy on the central bank front.

On Thursday morning, the Bank of England and the Czech National Bank are also due out with rate decisions of their own.  Similarly, neither of these two national banks are expected to make any adjustments in their policy rates.  But with global risks like Brexit and a soft global backdrop at play, this expected no change is not a guarantee. For the Czech Republic, previous comments by the CNB seemed even slightly hawkish alluding to accelerating inflation making things a tad more difficult to leave rates where they have been.  In APAC next Tuesday, we will also get decisions from the Reserve Bank of Australia and the Reserve Bank of New Zealand.  Once again no change is expected for either country, but cuts are seen as more likely than hikes.

One week after the FOMC decision, the Central Bank of Brazil is expected to leave the Selic Rate unchanged as well in spite of dovish tones from the chief policymaker.  Coming off of a hike to 1% in their last meeting, Norway’s Norgesbank will cap off next week in Central Bank meetings. Institutional members can always stay up to date with central bank tones and rate decisions with our Fedspeak Monitor and Central Bank MonitorsStart a two-week free trial to Bespoke Institutional to access our interactive Fedspeak and Global Central Bank monitor and much more.

 

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