Next week's key data and events – ING

US Fed Chair Janet Yellen’s speech on monetary policy will be the likely focus this coming week as we head towards the November FOMC meeting, suggests the analysis team at ING.

Key Quotes

“No policy change is expected at that meeting, but there could be more direct hints at the likelihood of a December hike in the accompanying statement.”

“Third quarter UK growth due next week looks set to come in just as sluggish as it was in the first and second quarters. Consumer spending has remained fragile, albeit perhaps not quite as woeful as last quarter, and persistent Brexit uncertainty means investment is unlikely to pick up the mantle.”

“In the Eurozone, the topic of the month will clearly be the ECB. We expect a dovish tapering with a reduction of the monthly QE purchases to €20-25bn until the end of 2018. Besides that, the PMIs and consumer confidence will give interesting insight into whether Eurozone optimism has carried over into 4Q17.”

“The German Ifo should give first insights in how German businesses have digested the outcome of the elections.”