ECB, Riksbank and Norges Bank meetings coming up
|Market Movers ahead
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In the euro area, we expect the ECB to announce a QE extension by nine months at a pace of EUR30bn. Apart from a scaling down of QE purchases, we do not expect the ECB to make any changes to its forward guidance at the upcoming meeting.
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We do not expect changes to the Swedish repo rate forecast when the Riksbank meets.
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In Norway, we expect Norges Bank to stay on hold as it is one of the intermediate meetings without a Monetary Policy Report and a press conference.
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The Chinese 19th Congress of the Communist Party continues and the new Standing Committee (SC) of the Politburo is presented on Wednesday.
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The first estimates of Q3 GDP growth are due out in both the UK and US next week.
Global macro and market themes
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Risk assets are supported by a long list of favourable factors – not least strong profit growth and cautious central banks.
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A moderate slowdown in China will cause some headwind for EM assets but should not derail the global recovery.
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Bond yields and EUR/USD are set to stay range bound in the short term.
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