A potential rate move could happen early this week, with retail sales from February out on Monday. Sales are expected to show a rebound from January, which was the biggest drop in March 2023, with sales rising 0.5%. On Tuesday, the Bank of Japan is expected to hold rates at 0.5%. The Fed is expected to hold rates at 4.5% on Wednesday. However, the real market mover will be Chairman Jerome Powell’s comments about the future of the economy at his press conference. On Thursday, the Bank of England is expected to hold rates at 4.5%.
Other notable events this week:
- Monday: Homebuilder confidence is expected to rise to 43.
- Tuesday: Building permits are expected to have fallen just 0.1% to 1.471M in February. Housing starts are expected to have fallen 1.9% to 1.34M in February.
- Wednesday: Euro Area inflation expected to slow to 2.4% in February. At 7:00 AM, mortgage demand and rates.
- Thursday: Existing-home sales are expected to fall 0.7% to a seasonally adjusted annual rate of 4.05M in February and jobless claims are expected to rise to 224,000.
