(Bloomberg) -- A 36-hour rush of global monetary decisions may set the tone for the rest of the year as the world adjusts to a US push to keep interest rates high.Most Read from BloombergUltra-Rich Buy Ultra-Luxury Counseling to Get Kids Into HarvardMGM Resorts Hackers Broke In After Tricking IT Service DeskDisney Talks on ABC Sale Heat Up as Byron Allen Makes OfferCanada Postpones Trade Mission to India With Tensions On RiseA $188 Billion Exodus Shows China’s Heft Fading in World MarketsStartin
Starting with the Federal Reserve on Wednesday and ending with the Bank of Japan two days later, monetary policy will be determined at key meetings across half of the Group of 20.
Setting the tone for all of them will be new projections from the Paris-based OECD on Tuesday. With weak demand from China depressing global trade, and the outlines of a stagflationary scenario forming in Europe, the apparent resilience of the US economy could prove the only bright spot. While economists surveyed by Bloomberg expect no change at Friday’s meeting, they’ll closely scrutinize any comments on the future of negative rates after Ueda recently touched on the possibility of scrapping them.
New Zealand also has GDP data due Thursday that’s likely to show a return to growth as the country readies for an election next month.A multitude of rate decisions across the region will keep investors busy. Most come on Thursday in the wake of the Fed. The same applies to Norges Bank, which signaled a likely move this month but might then change tack to keep monetary policy at the tighter level it will then have reached.
On the same day, policymakers in South Africa are likely to look beyond an expected quickening in consumer-price growth and maintain the benchmark interest rate at 8.25% for a second straight meeting.
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