According to Bloomberg,
Coming up in the global economy this week are readings on inflation in the U.K. and growth in the euro region, the third Communist Party plenary session in China and retail sales in Brazil. In the U.S., Janet Yellen’s confirmation hearing in her bid to become the next chairman of the Federal Reserve will take center stage.
— Bank of England Governor Mark Carney will make public the central bank’s quarterly inflation report on Nov. 13 as the economy shows signs of gathering steam.
— That may prompt policy makers to bring forward expectations of when unemployment will fall below 7 percent, which the BOE has set as a threshold for raising rates, according to economist Jonathan Loynes.
— “There must be a good chance that the unemployment forecast is reduced, not least because of what is likely to be a slightly stronger profile for GDP growth,” Loynes at Capital Economics Ltd. wrote in a Nov. 8 note to clients. “Such a shift so soon after the introduction of forward guidance could fuel expectations of further adjustments in the future, hence causing the markets to bring forward their rate-hike expectations again.”