MNI Gilt Week Ahead: Hauser, Greene and Blue Book

• Following last week’s MPC meeting, there is less on the domestic front this week, but there are still some noteworthy events.
• On Thursday there will be an MNI Connect event with Andrew Hauser, Executive Director for Markets at the Bank. Hauser is not a member of the MPC but has several key functions under his remit – including all market operations (such as APF sales) and also Market Intelligence (such as the MaPS survey). The topic of his discussion will be 'A journey of 1000 miles begins with a single step: filling gaps in the central bank liquidity toolkit.'
• We will also hear from Megan Greene on Thursday in her first public appearance since joining the MPC (although she did complete the Treasury Select Committee confirmation meeting and has written an op ed in the FT). As she was one of the members voting for a hike at last week’s MPC meeting, we would be looking closely for any further details of her rationale. However, we are unlikely to hear much on the topic as the appearance is as a panellist at a conference with the session entitled “What is the Effect of Climate Change on our Understanding of Macroeconomic and Financial Stability”.
• In terms of the data highlight this week, Friday’s final release of Q2 GDP data will have added importance as it will be accompanied by the Blue Book. We have already seen the preliminary revisions to the GDP data up to the end of 2021, with GDP revised up around 2ppt but Friday will see revisions to 2022/23 data. This will give much more of an indication of the bounceback from the post-Covid lows in the economy, and will therefore feed into estimations of spare capacity in the economy.

GiltWeekAhead20230925.pdf