(Bloomberg) -- US inflation figures in the coming week will reinforce that long-awaited interest-rate cuts are coming soon, while a reading on consumer...
-- US inflation figures in the coming week will reinforce that long-awaited interest-rate cuts are coming soon, while a reading on consumer spending is seen indicating that the central bank has been successful at keeping the expansion intact.With Housing Costs High, Democrats Hone YIMBY MessageEconomists see the personal consumption expenditures price index excluding food and energy — the Fed’s preferred measure of underlying inflation — rising 0.2% in July for a second month.
On Thursday, the government will issue its first revision of second-quarter gross domestic product. Economists’ median projection calls for a 2.8% annualized rate of growth, unchanged from the prior reading. Elsewhere, the euro zone will report inflation for August less than two weeks before the European Central Bank next decides on monetary policy, while China’s central bank will set the rate on its one-year policy loans. Rate decisions include Hungary and Israel.
Japan also gets a consumer inflation update for the capital, a leading indicator for national trends. Data on Friday may show India’s year-on-year economic growth slowed a tad in the second quarter, and trade figures are due during the week from Thailand, Sri Lanka and Hong Kong. Kazakhstan’s central bank meets Thursday to decide whether to cut its key rate for a third consecutive meeting.
In Eastern Europe, Hungary is expected to keep interest rates on hold at 6.75%. It’s a similar story in the Middle East, where Israel’s central bank is seen keeping benchmark borrowing costs at 4.5%. The main event in Mexico will be the central bank’s quarterly inflation report. New forecasts are unlikely so soon after revisions made in the bank’s Aug. 8 post-decision communique, but policymakers may re-examine GDP estimates.
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