UK inflation and ECB meeting in the spotlight next week - ING
Analysts at ING suggest that the UK inflation data and ECB meeting are going to be the most important economic events in the coming week which are likely to garner maximum investors’ attention.
“In the UK, we’re expecting inflation to stay perilously close to 3% as the effect of the pound’s depreciation continues to filter its way through to prices. That means inflation will continue to outpace wage growth by almost 1%. Payments firm Visa have suggested that the second quarter was the worst for consumer spending since 2013, although the volatility of official retail sales data means this household squeeze may not be quite so obvious in the latest figures released next week.”
“In the Eurozone, all eyes will be on the ECB. We expect ECB President Draghi to repeat the key elements of the Sintra speech, carefully preparing first steps towards tapering, while at the same time adding some dovish elements to calm down the recent small taper tantrum in financial markets.”
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