Financial news reporters will be pretty busy this week as several central banks are expected to announce their interest rate decisions, with the Federal Reserve (Fed) once again drawing most of the attention. As the week starts, economists focus on the UK CPI inflation report and the People’s Bank of China (PBoC) interest rate decision.
Commenting on the recent oil prices hikes, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said that OPEC targets less volatility in energy markets rather than prices. He also noted that “the world could go from one type of energy crisis to another if supply chains for critical minerals aren’t well planned.”
Minutes from the last Reserve Bank of Australia (RBA) meeting revealed that its board believes that inflation is still too high and reiterated that further monetary policy tightening may be required.
UK CPI Inflation August Report
The UK CPI inflation report will draw investors’ attention as the country’s economy is near the recession threshold. Economists suggest that inflation could rise to 7.1% on an…
