Summary of the most interesting economic events from the trading week of 19 - 25 June 2023

It's Monday, and that means another regular recap of what happened last week.

Last week we saw a big surprise from the central banks!

Read on to keep up to date!

GBP

On Thursday, we turned our attention to the BOE's interest rate decision, which the central bank raised by 25 basis points as expected, marking the fifth rate hike in a row.

USD

On Wednesday, the Fed raised rates by 75 basis points. Although it had predicted a 50 bp hike. During the week, the forecasts of major institutions (WSJ, Goldman Sachs, JP Morgan) came out, which to some extent counted on a 75 bp increase. So it was not such a surprise.

Recording of the press conference:

JPY

At the end of the week, the Bank of Japan left rates unchanged, as expected.

CHF

The big surprise of the week was the Swiss National Bank (SNB) unexpectedly raising rates.

And what's in store for the current trading week?

The current trading week will be much weaker. Still, it will bring some interesting data that will be worth mentioning.

The Reserve Bank of Australia will release its minutes of the monetary policy meeting on Tuesday.

The most important event we will focus on is Wednesday's CNB interest rate decision, which is expected to increase by 1 percentage point to 6.75 %.

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Sources:

https://www.investing.com

https://www.forexlive.com

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