Summary:
- Norges Bank expected to keep interest rates after the last month’s hike
- Central Bank of the Republic of Turkey to announce its interest rate decision
- European Central Bank will finish the week full of central bank meetings
Thursday is another busy day in terms of macroeconomic events as three interest rate decisions are scheduled for today. Thus, these central banks fill a major part of today’s calendar. We’ll start the day with a decision of the Norges Bank. The Central Bank of the Republic of Turkey will release its decision a few hours later. Last but not least, the European Central Bank will publish its decision concerning interest rates in the early afternoon.
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Open account Try demo Download mobile app Download mobile app9:00 am BST - Norway, Norges Bank Interest Rate Decision: The market consensus suggests the Norwegian central bank will not decide to change the level of interest rates. However, let us recall that Norges Bank decided to rise interest rates last month. Moreover, some hawkish remarks may occur today as price growth was vigorous in September.
12:00 pm BST - Turkey, CBRT Interest Rate Decision: The Turkish lira has strengthened recently in the wake of upbeat developments regarding the Turkish economy. A release of American pastor Brunson probably helped ease tensions. Nevertheless, the view of the Turkish economy still does not look optimistic . Economists surveyed by Bloomberg expect no changes in rates today.
12:45 pm BST - Eurozone, ECB Interest Rate Decision: The European Central Bank meeting seems to be one of the most important event this week. Even as no change in interest rates is expected, today’s meeting may provide some interesting remarks. Traders will look for hints on inflation as it increased in September (this was not the case as for the core gauge though). Additionally, investors will focus on comments concerning problems with an Italian budget, and a possible influence of them to the financial stability of the Eurozone. The ECB’s press conference is scheduled at 1:30 pm BST.
Central bank speakers scheduled for today:
- 12:00 pm BST - Riksbank’s Ingves
- 1:30 pm BST - ECB's press conference
- 5:15 pm BST - Fed’s Clarida
Major US companies reporting earnings today:
- Amazon - aft-mkt
- Alphabet - aft-mkt
- Intel - aft-mkt
- Merck & Co. - bef-mkt
The EURTRY has been falling since the beginning of September. The pastor Brunson’s release undoubtedly helped support the Turkish lira. The pair is trading around 6.55 on Thursday morning. Source: xStation5
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