W Week Ahead

Week Ahead: BOJ and ECB Meetings, G20, COP26, Japan General Election, U.S. Data

25 October, 2021
christophe-barraud-week-ahead-2021

Key Macro Events

🇪🇺 ECB Governing Council member Pablo Hernandez de Cos speaks at Congress’s budget committee – Bloomberg (25)

🇪🇺 ECB Governing Council Member and Bank of Portugal Governor Mario Centeno attends an event on financial literacy at a school in Montijo, greater Lisbon – Bloomberg (25)

🇩🇪 Germany IFO business climate for October (25)

🇬🇧 BOE policy maker Silviana Tenreyro speaks on supply chains at an event hosted by CEPR and the central bank – Bloomberg (25)

🌏 The Asean Business and Investment Summit opens in Brunei and is set to include comments from U.S. President Joe Biden and Chinese Premier Li Keqiang – Bloomberg (from 26 to 28)

🌏 The Asian Infrastructure Investment Bank’s board of governors, represented by nearly 90 country-members, will convene virtually at the lender’s annual gathering in Dubai – Nikkei (26)

🇪🇺 EU energy ministers hold an extraordinary council in Luxembourg to discuss rising energy prices in the bloc – Bloomberg (26)

🇪🇺 ECB Governing Council member Pablo Hernandez de Cos speaks at event about the risks of climate change at IESE business school – Bloomberg (26)

🇪🇺 Bank of France Governor Francois Villeroy de Galhau speaks at sustainable finance event in Paris – Bloomberg (26)

🇺🇸 S&P Corelogic CS-20 City YoY for August (26) ➡ A new record high of ~+20% YoY is very likely.

🇺🇸 Consumer Confidence for October (26)

🇺🇸 New Home Sales for September (26)

🇬🇧 U.K. Chancellor of Exchequer Rishi Sunak is set to lay out the government’s autumn budget with new forecasts from the Office of Budget Responsibility – Bloomberg (27)

🇺🇸 Durable Goods Orders for September (27)

🇨🇦 BOC Meeting (27) ➡ The Bank of Canada could bring an end to its quantitative-easing program.

🇧🇷 BCB Meeting (27)

🇯🇵 BOJ Meeting (28) ➡ The Bank of Japan’s quarterly outlook report is expected to keep its economic forecast mostly intact for fiscal year 2022 while trimming that for the current fiscal year – Nikkei

🇪🇺 EU economy and finance ministers hold an informal video conferenceto discuss implementation of the recovery and resilience facility – Bloomberg (28)

🇹🇷 Turkey central bank Governor Sahap Kavcioglu updates the base-case scenario for inflation through 2021 – Bloomberg (28)

🇪🇺 Economic Confidence (28)

🇪🇺 ECB Meeting (28) ➡ The European Central Bank will probably start laying the foundations at its Oct. 28 meeting for the big decisions to be made in December on asset purchases (more APP purchases from Apr. 2022 to offset the end of PEPP, new programme focused on clean energy sectors, etc.)

🇺🇸 3Q GDP QoQ Annualized (28) ➡ Atlanta Fed nowcast model points to a downward surprise.

🇨🇳 Evergrande, which narrowly averted a default last week by remitting $83.5 million in interest payments to bondholders, faces its next default deadline on Friday as the 30-day grace period for another $45.2 million in coupon payments ends. It also has a $14.25 million coupon due Saturday on its 9.5% January, 2022 bond – Nikkei (29)

🇪🇺 ECB Survey of Professional Forecasters (29)

🇪🇺 CPI YoY for September (29)

🇪🇺 3Q GDP QoQ (29)

🇺🇸 Personal Income and Spending for September (29)

🇺🇸 PCE Deflator (29)

Weekend

🌎 The leaders of the G-20 group of large economies will meet in Rome on Oct. 30 and 31 to discuss coronavirus, pandemic recovery, and climate change – Nikkei

🌎 World leaders meet in Glasgow from Oct. 31 to Nov. 12 for COP 26, the most important international discussions on climate since the Paris Agreement in 2015 – Nikkei

🇯🇵 Japan will go to the polls to choose its next government in a parliamentary election – Nikkei

Earnings

Previews

Focus on U.S. Economic Calendar

Top 10 Macro/Financial Charts of the Previous Week – w42

What happened in the World Economy last Week – in charts – w42 (Bloomberg)


*Note: Previous reports can be found here