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OUTLOOK
  • This morning’s Riksbank meeting is widely expected to culminate in a 50bp hike, despite the prior forward guidance strongly guiding towards 25bp and data for the first time in months not showing upside inflationary pressures relative to the Riksbank’s forecasts. There are more uncertainties than expected in the upcoming meeting as we have a new Governor for the first time in almost two decades in Erik Thedéen as well as a new Deputy Governor, Aino Bunge. However, given market pricing it is unlikely that either will want to cause too much of a surprise in the short-term. The decision is due at 8:30GMT / 9:30CET with a press conference beginning 90 minutes later. For the full MNI Riksbank preview click here.
  • At 9:45GMT /10:45CET this morning BOE's Bailey, Pill, Tenreyro and Haskel will all appear to testify ahead of the Treasury Select Committee and the Annual Reports of Pill and Haskel will both be released. Tenreyro voted for no change to Bank Rate while Haskel has previously dissented on the hawkish side so it will be interesting to see if there is any more bias we can pickup about Bailey, Haskel and Pill’s future voting intentions ahead of any further economic data releases.
  • Looking ahead to the rest of the day, the only notable data release (in addition to this morning's German HICP) will be US weekly claims data. We will also hear from ECB's Nagel, de Cos and de Guindos - but all at the end of the European trading day.

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