The US PPI will come out on Thursday, May 12, at 15:30 MT time.
BoE will permit EU banks to operate in Great Britain after Brexit
The Bank of England is going to permit European financial institutions to keep selling their services in Great Britain without having to create costly subsidiaries after Brexit. That’s what the BBC informed on Wednesday.
The verdict, if confirmed, would mean that EU banks providing wholesale services wouldn’t come across fresh hurdles to operating in London, taking on New York for the title of the global financial capital.
As a matter of fact, a BoE spokesman refused to comment on the report. The BoE is expected to unveil its approach to future supervision of foreign financial institutions at 1300 GMT.
The BoE's proposal could be interpreted as an indication of goodwill by the UK in Brexit negotiations and also an attempt to preserve Britain’s position as the financial center that hosts more financial institutions than any other.
By the way, more than 100 financial institutions working in London appear to be branches of lenders headquartered in the European Union.
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.