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.
British economy relies on customers as Brexit drags on business
Moving slowly against the backdrop of Brexit as well as decelerating global surge, the British economy is increasingly reliant on customers and their spending as business investment and exports recede.
The world's number five economy rallied by 1.4% last year that appears to be the weakest leap for six years. Moreover, it seems set to speed down further this year.
On Wednesday, the EU postponed the UK’s departure from the trading bloc until the end of October, although skepticism persists that UK lawmakers can form a consensus over Brexit.
As a matter of fact, in 2018, household spending managed to ascend by the least since 2012. Some of the deceleration turned out to be a by-product of the June 2016 Brexit vote that hammered the value of the UK currency and also pushed up inflation above wage surge through most of 2017.
However, pay surge has rebounded for the last time, backing consumer spending.
Last year, households and the cabinet turned out to be the only catalysts of the UK economy. Net trade and business investment put pressure on surge.
Mark Carney, BoE Governor told that the global economy was facing some of the same issues.
In February, stockpiling boosted factories.
As follows from EC data, public confidence in the economic outlook happens to be weaker in the United Kingdom than in any other European country.
The Bank of England stressed that interest rates need to go up in a gradual and limited way, as long as Brexit demonstrates smooth progress.
By the way, the BoE's nine rate-setters might be willing to dodge adding to economic uncertainty by providing different views on the outlook for borrowing costs.
The Fed is going to take a decision about the interest rate. This is the crucial news for the following week. What's going on in the markets and what to expect?
The market is pricing that the Fed will leave the rate at the same level. Meanwhile the major players think that the Fed will start with the monetary easing in the second quarter 2024.
US stock markets started falling, while the US dollar is rising. What to expect from
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%.