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Key Takeaways
- Fed Chairman Jerome Powell will hold a press conference on Wednesday
- Several central banks are slated to announce interest rate decisions
The Fed’s Update to be the Main Event This Week
The week starting Monday, September 20, will maintain a largely quiet agenda in terms of scheduled economic data and reports. The highlight of the week would be the Federal Reserve’s update on Wednesday.
Skipping Monday as no significant economic data is expected, investors on Tuesday will be looking for the US building permits in August. The report is scheduled for 08:30 am EST.
On Wednesday, the focus will be on the US central bank, the Federal Reserve. At 02:00 pm EST, the Fed will publish its interest rate decision, which is expected to remain unchanged at 0.25%.
Press Conference by Fed Chair Jerome Powell
More important, on Wednesday, Fed officials conclude their two-day regular policy meeting, one of the last three remaining Fed meetings until the end of the year. Traders and investors will be expecting to hear more insights into the Fed’s plans for tapering or reducing, the easy-money policies that have supported the US economy since the pandemic began 18 months ago.
Fed Chairman Jerome Powell will hold a press conference on Wednesday at 02:30 pm EST. In his speech, he is expected to address the state of the economy, inflation pressures, and most of all, unwinding the monthly asset purchases.
The SNB and the BoE Reveal Interest Rates
On Thursday, Switzerland’s Swiss National Bank (SNB) is slated to publish its interest rate decision at 03:30 am EST.
At the same time, Germany will announce its manufacturing PMI numbers for September. At 07:00 am EST, the UK’s Bank of England will reveal its interest rate decision for September. Canada’s core retail sales number for July will follow at 08:30 am EST.
On Friday, Germany is set to report its Ifo Business Climate Index figures for September at 04:00 am EST. At 10:00 am EST, the US will publish its new home sales data for August.
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