Article by ForexTime
Next week’s economic calendar will be a busy one as there will be a vast amount of economic data releases.
From the United Kingdom the important data include updates on inflation and the labour market as well as minutes from the latest Bank of England meeting. The Bank of England kept rates on hold at 0.5%, but the possibility of the Bank of England being the first major central bank to hike rates has increased after minutes from the previous meeting revealed two members had voted for a quarter point rate rise.The Monetary Policy Committee kept its benchmark interest rate at a record-low 0.5 percent this month and the minutes will reveal how the nine members voted
Markets will also watch the referendum on Scottish independence on September 18th. Supporters of the “NO” vote, i.e. of keeping Scotland in the United Kingdom, have regained a 4 percentage point lead over separatists, a YouGov poll showed on Friday. The YouGov survey for The Times and Sun newspapers put Scottish support for the union at 52 percent versus support for independence at 48 percent, excluding those who said they did not know how they would vote.
Focus of the markets next week will also be on the United States when the Federal Reserve Bank announces their latest monetary policy decision. The nation’s industrial production and inflation data are also due next week. The Federal Open Market Committee is expected to cut monthly bond purchases by an additional $10 billion as the U.S. economy expands., keeping it on track to announce an end to the program in October. Policy makers may also discuss a change to their statement to drop language promising to keep the benchmark interest rate low for a “considerable time” after bond purchases end.
From the Eurozone, data releases include consumer price numbers and sentiment data.
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Finally from Australia on Tuesday, the RBA releases minutes from its latest policy meeting.
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