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!
Chinese economy loses momentum following policymakers’ clampdown on debt risks
In April, China's surge took a step back right after a surprisingly sturdy start to 2017, as factory output to investment to retail sales all shrank because authorities clamped down on debt risks, trying to stave off a potentially damaging effect to the Chinese economy.
Waking up to the ongoing threat posed by relatively cheap credit-fueled stimulus since the 2008-9 global financial meltdown, the country’s government has kept tightening the screws on speculative financing for the last several months.
Monday’s data illustrated the broad economic effect of these regulatory curbs, with April’s below-forecast factory output as well as fixed-asset investment in the first four months of 2017, reinforcing evidence of a declining manufacturing sector and also slowing momentum in the world's number two economy.
Financial experts surveyed by Reuters had foreseen factory output would inch up by 7.1% in April, and also tipped fixed asset investment to ascend 9.1% in the period January-April.
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.
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?
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.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.