Federal Reserve Chair Jerome Powell is not scheduled to appear in public this week, meaning investors will have to wait for any signs from the very top of the central banks as to whether it’s will cut interest rates this month for a third time this year. Several regional Fed presidents will though take to the microphone. Atlanta’s Raphael Bostic, Kansas City’s Esther George, James Bullard of St. Louis and Mary Daly of San Francisco all talk Tuesday.
The Fed’s Beige Book comes out on Wednesday giving a snapshot of economic conditions across the nation. That is published hours after retail sales data for September with economists predicting another month of modest growth. Industrial production may have contracted the same month, underscoring recession fears, a report is forecast to show on Thursday.
Israel’s inflation on Tuesday is likely to stay below the central bank’s target range of 1% to 3%, showing why a rate cut to near zero is in the cards. A financial crisis may be looming in Lebanon as pressure on the currency peg mounts and investors increasingly ask how long the government can continue to repay its debts. In Ghana, September inflation data will be out on Wednesday.Argentina’s government will start publishing a final round of key economic indicators before the Oct.
A raft of data out of China will likely show an economy that’s hurting: GDP growth probably slowed further in the third quarter, exports continued to contract and producer prices are deflating again. In Hong Kong, Chief Executive Carrie Lam will set out her economic policy objectives in a key speech, coming against the backdrop of a worsening political crisis and deepening economic slump.
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