Compiled by: GaryMa Wu Blockchain about blockchain
Summary
Wu Blockchain this week’s macro indicators and analysis: In the context of last week’s super central bank week, basically all central banks chose to suspend interest rate increases. Although the Federal Reserve also suspended interest rate increases as scheduled, its interest rate increase expectations and dot plot distribution were both hawkish; this week we Focus on the Fed's favorite inflation indicator "U.S. core PCE price index in August", the final value of U.S. real GDP in the second quarter, and China's September PMI data.
Last week review
●Minutes of the September meeting of the Reserve Bank of Australia: Suspending interest rate increases due to concerns about economic slowdown, but leaving the door open for another rate increase.
●As expected by the market, the Federal Reserve did not raise interest rates continuously and stayed on hold for the time being. However, it also raised its interest rate expectations for the next two years, sending a signal that high interest rates will remain high for longer. The dot plot is unexpectedly hawkish, suggesting one more interest rate increase this year, and the number of interest rate cuts next year may be cut in half to two. Interest rate expectations for 2025 and longer term have both increased. (Wall Street News)
●The Swiss National Bank kept interest rates unchanged, ending five consecutive quarters of interest rate hikes.
●The Bank of England kept its benchmark interest rate unchanged at 5.25%. Previously, the Bank of England had raised interest rates 14 times in a row.
●The Bank of Japan continues to maintain its current large-scale monetary easing policy unchanged. At the same time, regarding the yield curve control (YCC) that the market is concerned about, the Bank of Japan once again stated that it would not make any changes.
This week’s key events & indicators
September 26 ● 2023 FOMC Voting Committee and Minneapolis Fed President Kashkari delivered a speech (06:00)
September 28 ● The final value of the annualized quarterly rate of real GDP in the United States in the second quarter (20:30)
●U.S. second quarter core PCE price index annualized quarterly final value (20:30)
●2023 FOMC Voting Committee and Chicago Fed President Goolsby delivered a speech (21:00)
September 29 ● Federal Reserve Chairman Powell will attend the meeting and answer questions from the audience and online participants (04:00)
●Initial value of Eurozone CPI annual rate in September (17:00)
●U.S. core PCE price index annual rate in August (20:30)
September 30 ● China’s official manufacturing PMI in September (09:30)
October 01 ●China Caixin Service Industry Manufacturing PMI in September (09:45)
Summary
Wu Blockchain this week’s macro indicators and analysis: In the context of last week’s super central bank week, basically all central banks chose to suspend interest rate increases. Although the Federal Reserve also suspended interest rate increases as scheduled, its interest rate increase expectations and dot plot distribution were both hawkish; this week we Focus on the Fed's favorite inflation indicator "U.S. core PCE price index in August", the final value of U.S. real GDP in the second quarter, and China's September PMI data.
Last week review
●Minutes of the September meeting of the Reserve Bank of Australia: Suspending interest rate increases due to concerns about economic slowdown, but leaving the door open for another rate increase.
●As expected by the market, the Federal Reserve did not raise interest rates continuously and stayed on hold for the time being. However, it also raised its interest rate expectations for the next two years, sending a signal that high interest rates will remain high for longer. The dot plot is unexpectedly hawkish, suggesting one more interest rate increase this year, and the number of interest rate cuts next year may be cut in half to two. Interest rate expectations for 2025 and longer term have both increased. (Wall Street News)
●The Swiss National Bank kept interest rates unchanged, ending five consecutive quarters of interest rate hikes.
●The Bank of England kept its benchmark interest rate unchanged at 5.25%. Previously, the Bank of England had raised interest rates 14 times in a row.
●The Bank of Japan continues to maintain its current large-scale monetary easing policy unchanged. At the same time, regarding the yield curve control (YCC) that the market is concerned about, the Bank of Japan once again stated that it would not make any changes.
This week’s key events & indicators
September 26 ● 2023 FOMC Voting Committee and Minneapolis Fed President Kashkari delivered a speech (06:00)
September 28 ● The final value of the annualized quarterly rate of real GDP in the United States in the second quarter (20:30)
●U.S. second quarter core PCE price index annualized quarterly final value (20:30)
●2023 FOMC Voting Committee and Chicago Fed President Goolsby delivered a speech (21:00)
September 29 ● Federal Reserve Chairman Powell will attend the meeting and answer questions from the audience and online participants (04:00)
●Initial value of Eurozone CPI annual rate in September (17:00)
●U.S. core PCE price index annual rate in August (20:30)
September 30 ● China’s official manufacturing PMI in September (09:30)
October 01 ●China Caixin Service Industry Manufacturing PMI in September (09:45)
