This translation has been automatically generated and has not been verified for accuracy.Investors around the globe are bracing for a second rate cut from the U.S. Federal Reserve at its policy-setting Federal Open Market Committee on Sept. 17-18.
The Fed cut rates for the first time in more than a decade in July. Market pricing suggests that investors expect another quarter-point reduction next week.After the European Central Bank’s bazooka, the wait is on to see what the message is from other central banks. The Fed of course will cut rates by a quarter point on Wednesday. But Thursday brings policy meetings in Japan, Britain, Norway and Switzerland.
Brexit clouds the Bank of England’s strategy but Norway, one of very few central banks still pressing on with rate rises, could hike again on Sept. 19. But with easing gathering steam all around, it is very likely to mark the end of its tightening cycle. The week saw Beijing exempt some agricultural products from additional tariffs on U.S. goods and Trump delay a tariff increase on certain Chinese goods by two weeks. Junior U.S. and Chinese officials meet in the coming week followed by talks between senior trade negotiators in early October.
Prime Minister Boris Johnson will challenge a ruling of Scotland’s highest court of appeal that his decision to suspend, or prorogue, parliament for five weeks was unlawful and should be annulled. Gina Miller will appeal a rejection of her challenge for a judicial review of Johnson’s decision to prorogue parliament. Both cases are scheduled to be heard by U.K.’s Supreme Court on Tuesday.
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