KONJUNKTUR IM BLICK/End of the monetary policy summer break

DJ KONJUNKTUR IM BLICK/End of the monetary policy summer break

By Hans Bentzien

FRANKFURT (Dow Jones)–“Sir: It’s time. Summer was very big,” once wrote Rainer Maria Rilke. Gemessen and the financial market movements war this Summer is a bigger whole. If it weren’t for the fact that the Bank of Japan is spending the summer with a sentence-high interest rate. Now that there are estimations about the monetary policy activities in their handicraft, they can come into the commenden that are a bit on the calendar. An accounting analysis is completely the first view of the August Einkaufsmanagerindices (PMIs) and the index of EU consumer confidence.

The Council of the European Central Bank (EZB) found a signal seat on July 18, for the September session there is a Senseikonung in Aussicht zu stellen. If that is not the case, it may be that the data has been published, but the picture may also be like that. After undergoing an inflation correction in July, there is another “data point” and: the EZB has created a tariff index for the second quarter. In the first quarter, it had announced, for the general satisfaction, an adjustment of the tariff increase from 4.5 to 4.7 percent.

The EZB no longer considers itself dependent on inflation, but inflation is higher than the inflation that occurs while inflation is increasing. The EZB publishes the Index on Thursday (11:00).

Continue reading with the following assessment in September relevant terminology in that period of the final presentations for July (Tuesday, 11:00), the ergebnisse of the EZB consumer questionnaire (Friday, 10:00) and no more than a seating program of July 18. The EZB is 18 years old. July is closed, his sentence is one of the things he wants to do. Das Sitzungsprotokoll (Thursday, 13:30) could cast a möglicherweise look, which the Forderungen nach een zinssenkung in September was.

Geldpolitisches Symposium in Jackson Hole begins

The most important monetary policy conference of the world in those years stands under the motto “Reassessing the effectiveness and transmission of monetary policy”. The genaue agenda is of no importance. The Fed has not stood still for long, and its chairman Jerome Powell is on Friday at 16:00 a live editorial with a konjunkturausblick to work. The chef of the European Central Bank (EZB), Philip Lane, was acquitted at 18:25 and a panel with a theme put together.

In recent years there has been much discussion about the large volume of investments by the central banks (quantitative easing – QE) under various framework conditions and their uninterested biases that will undergo the effects of the quantitative tightening (QT). The Symposium will be officially opened on Thursday.

Zinsentscheidungen gibt es in der Woche in Sweden (Montag, 9.30 a.m.), in China (Dienstag, 3.00 a.m.) and in der Türkei (Dienstag, 1.00 p.m.)

The European Einkaufsmanagerindicates in August

The activities of the European economy last in August a one-sided picture. If you are a service sector – and the duration of your Wirtschaftswachstum has been postponed -, but it will probably be a problem to do this. From Dow Jones Newswires broke out the Volkswirte, the service performance PMI of the Euroraums at 51.7 (July: 51.9) points sunk, after the Industry PMI at 46.0 (45.8) points rose. The data were published on Thursday (10:00).

The EU consumer confidence index is visible on Thursday (4 p.m.) and the fresh start of German exports in the non-EU state in July on Thursday (8 a.m.).

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DJG/hab/gos/sha

(END) Dow Jones Newswires

August 19, 2024 01:00 ET (05:00 GMT)

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