Do you write or edit portfolio manager commentaries? Do you want to stay on top of the macroeconomic events that shape your day-to-day life as a financial services marketer?
If so, here are the big macro events that the ext. team is keeping an eye on over the coming weeks.
- On March 20, the U.S. Federal Reserve Board (“Fed”) will announce its interest rate decision. At its latest meeting in January, the Fed maintained the target range for its federal funds rate at 2.25% to 2.50%. The Fed is expected to hold its interest rate steady for a second consecutive meeting partly as a result of the slowing global economy, easing inflation and continued trade uncertainty
- The Bank of England (“BoE”) will announce its interest rate decision on March 21. The BoE has held the Bank Rate steady at 0.75% since its last increase in August 2018. The BoE intends to raise rates at a gradual pace. However, slowing domestic and global economic growth, as well as the uncertainty of Brexit, will weigh heavily on the BoE’s decision
- Canada will announce its inflation rate for February on March 22. Inflation fell to 1.4% in January, the lowest rate in over a year. This pullback was primarily the result of falling gasoline prices and an overall decline in the price of food. The Bank of Canada (“BoC”) expects lower gasoline prices to persist, which may keep inflation below 2% throughout 2019
- On March 27, the U.S. will announce its balance of trade for January. The U.S. trade deficit widened to US$59.8 billion in December. Exports fell 1.9%, while imports rebounded, rising 2.1%. As a result of ongoing trade uncertainty, this will be a closely watched measure to anticipate its impact on the overall health of the U.S. economy
- China will announce its first quarter gross domestic product (“GDP”) growth rate on April 16. China’s GDP grew 6.4% in the fourth quarter, slowing from the 6.5% recorded in the third quarter. While economic activity has been affected by the trade dispute with the U.S., the Chinese government is looking to boost domestic economic activity through fiscal policy. Furthermore, the People’s Bank of China has added more liquidity into the system through its ongoing reduction of the required reserve ratio for banks