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The back half of this week has a plethora of central bank activity - the big 3 all featuring:
- Federal Reserve FOMC meeting today - preview
- Barclays' quick preview of the FOMC highlight a risk and what it means for the USD
- Its FOMC week! Here is a quick preview from BoA/ML
- US FOMC meet this week - preview (CBA's thoughts)
Thursday
Friday:
- BOJ June 2018 meeting - heads up and preview
Another quickie on the European Central Bank meeting:
- These are certainly interesting times for Europe. The past month has shown that the region's political instability is certainly not behind it. In addition, in early 2018, the economy has looked decidedly more fragile than anticipated.
- For policy makers, this calls for restraint. The awkward point however is that this is all occurring at a time when the market is desperate for guidance on the ECB's intended tightening of policy: first an end to the asset purchase program; then, at some stage, a rate hike(s).
- Recent comments by Council members imply discussions will be had at the June meeting, though (as evinced by the past) this does not mean detail will soon be forthcoming to the public. Look for loose guidance on the path forward at this press conference, followed by a concrete plan by September.
