It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
Big Japanese manufacturers' mood reaches 11-year maximum
For the three months to December Japanese business confidence improved, hitting an 11-year maximum, as a major bank poll disclosed. It’s an evident sign that the Japanese economy is gaining momentum from firm exports as well as booming corporate revenues.
However, big manufacturers as well as non-manufacturers actually expect business conditions to worsen for the next three months, emphasizing their reluctance to embrace the improved operating environment via hikes in investment and wages.
Making cash-rich businesses spend more on wages turned to be a priority for the premier Shinzo Abe's vigorous efforts to tame the deflation, which has plagued Japan for almost two decades.
As part of that initiative, on Thursday Abe's ruling coalition passed a plan to slash the corporate tax rate. The measure will apply only for businesses, which increase spending. The given move is expected to improve business sentiment in the nearer months.
Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
ECB is ready to take the decision about the key rate. What to expect from officials? Oil prices are high, and economy indicators demonstrate the slowing down in the strongest European economies.
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.