Central banks are back on track after the summer break. First of all, the publication of the Beige Book of the Federal Reserve is expected tomorrow which should offer clear signals on the expectations of an economic recovery (from which confirmations are expected on Friday when the unemployment rate will be communicated, followed very closely from the perspective of the council of central banks (Fomc ) of 17-18 September which should clarify the Fed's strategies in terms of tapering (reduction of the monetary stimulus plan).
On Thursday the ball then passes to the European Central Bank and the Bank of England. As usual, the directors of the two institutes meet every first Thursday of the month. Will they leave rates unchanged (currently set at 0,5%) or are there some twists to be expected? According to most analysts, rates will still remain unchanged also because inflation in the euro area and in Great Britain is below 2% and does not represent (according to Brussels' parameters and underlying ideology) a threat . Still according to what was communicated by the OECD, consumer prices in the OECD area rose by 1,9% yoy in July (+1,8% in June), driven by the energy components (+4,5% year) and food (+2,2%).
