Global 36-Hour Interest-Rate Spree Heralds First US Cut of 2025

Economic Reports and Central Bank Decisions - Several economic reports from China, inflation data from Japan, the UK, and Israel, Swiss export figures, and a credit ratings review of Italy are expected to be highlights in the upcoming week [1] - Central banks in major economies, including Indonesia, Brazil, and South Africa, are anticipated to maintain a watchful stance without changing rates [1][2] US and Canada - The Federal Open Market Committee (FOMC) is expected to cut rates by 25 basis points, influenced by market expectations and political pressures rather than economic data [3][4] - Retail sales in the US are forecasted to rise by 0.3% in August, following larger gains in previous months [6] - The Bank of Canada is likely to cut its benchmark overnight rate to 2.5% amid dismal jobs data and economic contraction [8] Asia - China will release a range of economic data, including retail sales and industrial output, to assess the impact of targeted support on demand [10] - The Bank of Japan is expected to leave rates unchanged, with attention on potential future hikes as inflation remains high [13] Europe, Middle East, and Africa - UK inflation data is expected to remain at 3.8%, with the Bank of England likely to keep its key rate on hold at 4% [14] - The European Central Bank will host a conference with potential comments from policymakers following recent rate decisions [16] - Credit assessments for key euro-area borrowers, including Italy and Greece, are scheduled, with Swiss export numbers gaining significance amid trade negotiations [17] Latin America - Brazil's GDP-proxy data is expected to show a decline in economic activity as it heads into the second half of 2025 [19] - Angola and Ghana are anticipated to cut their key rates to support their economies as inflation cools [19] - In Argentina, economic forecasts are being revised downward following poor electoral results, with key economic data releases expected [22]