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18 March 2022

Key events in developed markets next week

PMIs across developed markets will depict the effect of recent events on economic activity. However, central banks such as the US Federal Reserve have refused to alter their rate hiking plans amid the global crisis

The Fed raised rates by 75bp
The Fed raised rates by 75bp

US: Further hawkish signals from the Federal Reserve following last week's rate hike

The Federal Reserve has signalled a much stronger appetite to combat the threat of inflation. It is now signalling a further 150bp of interest rate increases after this week’s 25bp hike having told us just 12 months ago that it didn’t think it would need to raise rates before 2024. The world has changed so we will be focusing on the numerous Fed speakers scheduled over the coming week to see how they view the balance of risks. We will also be listening out for any comments on potential plans they have for running down the central bank’s $8.9tr balance sheet. Data includes durable goods orders, which will be dragged lower by a drop in Boeing aircraft orders. Strip these out and the report should be solid given evidence seen in business surveys, such as the ISM report. There are also plenty of housing data, which should be OK.

Developed Markets Economic Calendar

 - Source: Refinitiv, ING, *GMT
Source: Refinitiv, ING, *GMT
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