Fed, BoE rate decisions
The US Federal Reserve is holding a two-day board meeting on March 19-20.
The Fed is widely expected to hold interest rates steady in light of the Chair Jerome Powell’s repeated remarks on the need to be patience as the world grapples with a slowing economy.
But any change in the Fed’s balance sheet will be in the focus. After the meeting, Powell is set to hold a news conference in Washington.
The Bank of England, BoE, is also announcing its rate decision on March 21.
With Britain still in the midst of the Brexit turmoil, the bank is anticipated to hold its current interest rate on hold.
Brexit vote, EU summit
The UK parliament will be voting for the third time PM Theresa May’s already twice-rejected Brexit deal ahead of her visit to Brussels for another last meeting before the March 29 exit date hits.
On March 21, EU leaders are holding a two-day summit in Brussels where they will along with May discuss the Brexit after the UK Parliament approved a request to delay Brexit.
Xi visits Europe
China’s president Xi Jinping will be on a European tour, visiting Italy and France with which he is expected to sign grand economic projects.
Sino-US trade talks resume although at a lower-level. They are not expected to finalize this week.
Data to watch:
Tuesday
UK Average Earnings Index +Bonus (Jan) Claimant Count Change (Feb), EUR German ZEW Economic Sentiment (Mar)
Wednesday
UK CPI (YoY) (Feb), UK Parliament vote on Brexit deal, US Crude Oil Inventories, US FOMC Economic Projections, FOMC Statement, Fed Interest Rate Decision, FOMC Press Conference
Thursday
Vernal Equinox holiday Japan, UK Retail Sales (MoM) (Feb), BoE Interest Rate Decision (Mar), US Philadelphia Fed Manufacturing Index (Mar)
Friday
German Manufacturing PMI (Mar), Canadian Core CPI, Core Retail Sales, US Existing Home Sales (Feb)
