Summary of the most interesting economic events from the trading week of May 6 - 12, 2024

The weekly recap is here! Join us for a recap of what happened last week, and what we'll be interested in this week.


The Bank of England left the base rate unchanged at 5.25 % on Thursday. The decision was as expected. But the British pound weakened in response and here are a few reasons... 2 committee members were in favor of a 25bp rate cut, or the decision was not unanimous. The central bank took the next step to cut rates as it hinted that a cut could come in June. Governor Bailey announced that the central bank could cut rates more than the markets are currently pricing in.

This week we have labour market data, but the BoE is now focusing more on inflation. So the decision might not be completely dependent on the labour market unless there is a big surprise.

What's in store for us this week?

Monday: inflation in the Czech Republic (CZK)

Tuesday: the Japanese PPI (JPY), the UK labour market (GBP), the German and Spanish inflation rates (EUR), the Swiss PPI (CHF), the US PPI (USD), Fed President Powell's speech (USD)


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