Every week we expect many interesting events that can shake the market.
Shanghai will restrict its population to 25 million
China's financial hub of Shanghai is on the verge of restricting its population to about 25 million by 2035 as part of an attempt to handle a so-called "big city disease", as the cabinet has told.
On Monday, the State Council informed on its website that the objective to control the size of the city happened to be part of Shanghai's ambitious masterplan for 2017-2035, already approaved by the government body.
The State Council told that by 2035 Shanghai’s population is going to be strictly controlled at approximately 25 million and the overall amount of land made available for construction won’t surpass 3,200 square kilometers.
State media has labeled "big city disease" as a serious threat when a megacity turns plagued with, traffic congestion, environmental pollution as well as a shortage of public services, such as medical care and education.
A great number of China's biggest cities come across soaring house prices, thus driving fears of another property bubble.
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Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.