Thursday’s ECB meeting is expected to bring a strong commitment to do more given the renewed wave of COVID cases and increasingly tight restrictions across Europe. The BoJ is expected to leave policy on hold, as is Brazil.
Data
Q3 GDP releases will be the highlight of the week with the US on Thursday and European releases on Friday. Sharp rebounds are expected but this will not capture the tightening of restrictions over the past month, particularly for Eur
ope. The German IFO survey earlier in the week will give a timelier reading on the economy, as will claims data in the US. Europe will release flash inflation data for October at the end of the week and the US will have core PCE for September.
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Monetary Policy
Thursday’s ECB meeting is expected to bring a strong commitment to do more given the renewed wave of COVID cases and increasingly tight restrictions across Europe. The BoJ is expected to leave policy on hold, as is Brazil.
Data
Q3 GDP releases will be the highlight of the week with the US on Thursday and European releases on Friday. Sharp rebounds are expected but this will not capture the tightening of restrictions over the past month, particularly for Europe. The German IFO survey earlier in the week will give a timelier reading on the economy, as will claims data in the US. Europe will release flash inflation data for October at the end of the week and the US will have core PCE for September.
In EM, South Korea and Mexico will release Q3 GDP data, while South Africa (September) and Poland (October flash estimate) have CPI data scheduled.
Events
China’s policymakers will discuss the next five-year plan (2021-2025), including any updated GDP growth target and plans on tech and the environment. Turkey’s central bank will release its latest quarterly Inflation Report.
Caroline Grady is Head of Emerging Markets Research at Macro Hive. Formerly, she was a Senior EM Economist at Deutsche Bank and a Leader Writer at the Financial Times.
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