Economy Week Ahead: ECB, BOJ Meetings; U.S. Existing Home Sales
January 19 2020 - 3:29PM
Dow Jones News
By WSJ Staff
A holiday-shortened week in the U.S. lightens the flow of
economic data as financial markets look to consolidate a rally that
has sent stocks to record levels.
Monday: U.S. markets and government closed for Martin Luther
King Jr. Day.
Tuesday: Japan's central bank releases a policy statement and
quarterly outlook for economic activity and prices in the world's
third-largest economy. The bank is expected to keep interest rates,
which are set slightly below zero, on hold.
Wednesday: The U.S. National Association of Realtors publishes
December existing home sales at 10 a.m. ET. With the housing sector
experiencing a late-cycle renaissance in recent months -- thanks to
low mortgage rates and rising incomes -- economists estimate that
5.45 million homes were sold last month, up 1.9% from November.
Thursday: The European Central Bank releases a policy statement
at 7:45 a.m. ET, with ECB President Christine Lagarde slated to
hold a news conference at 8:30 a.m. While investors aren't
expecting changes in policy, they will be closely watching updates
on a strategic review the central bank is undergoing at a time when
inflation, interest rates and economic growth are all lower than
policy makers would like.
Friday: IHS Markit publishes a round of closely watched measures
of January business activity around the world. The firm's
purchasing managers' indexes for the U.S., due out at 9:45 a.m.,
are expected to show very modest slowdowns in both the
manufacturing and services sectors, which should remain in
expansion territory.
(END) Dow Jones Newswires
January 19, 2020 15:14 ET (20:14 GMT)
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