Bank of England delays interest rate decision but ONS sticks to economic data plans for week ahead

A busy week of economic data, a Bank of England policy decision and corporate updates were scheduled for the week ahead, although following the death of Queen Elizabeth some organizations began to postpone the planned events.

The Bank announced on Friday that it would postpone the meeting and decision on interest rates of its Monetary Policy Committee (MPC) by one week, until September 22.

The Queen’s coffin is due to be airlifted to London on Tuesday and the following day a ceremonial procession that will take place through London before being in state at Westminster Hall begins on Wednesday and lasts four full days.

Many other dates in the world of finance will continue, with the Office for National Statistics confirming that the economic releases scheduled for the week are likely to take place, “unless further changes are announced”.

These include the latest data on UK GDP, unemployment, inflation and retail sales, which were due to arrive ahead of the MPC meeting.

Currently at a 40-year high of 10.1% and expected to continue to rise, inflation will be the main driver.

The BoE has forecast the consumer price index (CPI) to peak at 13% in the fourth quarter of 2022, with some economists predicting that inflation could then reach an eventual peak of 18% or 20% at the start of the month. next year – but that forecast was based on a projected energy price cap of £3,500.

As new Prime Minister Liz Truss capped energy bills at £2,500 for two years, economists say inflation is set to peak lower, with some like Barclays saying it may have already reached a peak.

This could help the economy avoid a long recession, but should not prevent further potential interest rate hikes over the next two years, as it is expected that it will be difficult for inflation to return to the normal.

Among other events on the financial calendar, the coming week should still see several US earnings reports, data from various major economies, and the completion of the historic Ethereum “merger” event in the crypto world. currencies.

Important announcements scheduled for Monday

Interims: Abcam (AIM:ABC) PLC, Greencoat Renewables PLC (LSE:GRP), Kape Technologies PLC (LSE:KAPE), MP Evans Group PLC, SigmaRoc PLC (AIM:SRC)

Finals: Arcontech Group PLC (AIM:ARC), Made Tech Group PLC (AIM:MTEC), Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF)

AGM: SDCL Energy Efficiency Income Trust PLC (LSE:SEIT)

Economic Updates: Trade Balance (UK), Gross Domestic Product (UK), Services Index (UK), Industrial Production (UK), Manufacturing Production (UK)

American profits: Oracle Corporation (NYSE: ORCL), Legend Biotech Corporation

Important announcements scheduled for Tuesday

Interims: Alfa Financial Software Holdings Ltd, Churchill China (AIM:CHH) PLC, Corero Network Security PLC (AIM:CNS), ENGAGE XR Holdings PLC, Fevertree Drinks (AIM:FEVR) PLC, Futura Medical PLC (AIM:FUM, OTC: FAMDF), Harworth Group PLC, IQGeo Group PLC (AIM:IQG), JTC PLC (LSE:JTC), Oxford Nanopore Technologies PLC (LSE:ONT), Property Franchise Group PLC, Smart Metering Systems PLC (AIM:SMS), Team17 Group PLC (AIM:TM17), Trustpilot Group PLC (LSE:TRST), VH Global Sustainable Energy Opportunities PLC (LSE:GSEO)

Finals: Gateley Holdings PLC (AIM:GTLY), Mattioli Woods PLC (AIM:MTW)

AGM: Alpha Financial Markets Consulting PLC (AIM:AFM), Industrials REIT Ltd (LSE:MLI, JSE:MLI), Mercia Asset Management PLC (AIM:MERC), Rockwood Strategies PLC, Wizz Air Holdings PLC (AIM:WIZZ)

Economic Updates: Unemployment rate (UK), Claimant count rate (UK), Consumer price index (US)

American profits: PharmaCyte Biotech Inc, Core & Main Inc

Important announcements scheduled for Wednesday

Interims: Advanced Medical Solutions Group (AIM:AMS) PLC, Artisanal Spirits Company PLC, Blackbird PLC (AIM:BIRD, OTCQX:BBRDF), Central Asia Metals PLC (AIM:CAML, OTC:CAMLF), Epwin Group PLC (LSE:EPW) ), Glenveagh Properties PLC (LSE: GLV), Itaconix PLC (LSE: ITX, OTCQB: ITXXF), Tullow Oil PLC (LSE: TLW)

Finals: Daytime Group PLC (AIM:DNL), Dunelm Group PLC (LSE:DNLM), ITM Power PLC (AIM:ITM), Redrow PLC (LSE:RDW)

AGM: Augmentum Fintech PLC (LSE: AUGM), B90 Holdings (AIM: B90) PLC, Best of the Best PLC (AIM: BOTB), Dev Clever Holdings PLC (LSE: DEV), Fulcrum Utility Services Limited, Grafenia Plc (AIM: GRA), Hornby PLC (LSE:HRN), Lansdowne Oil & Gas (AIM:LOGP), Marlowe PLC (AIM:MRL), Purplebricks Group PLC (AIM:PURP), Sutton Harbor Group PLC

Economic Updates: Consumer Price Index (UK), Producer Price Index (UK), Retail Price Index (UK), MBA Mortgage Applications (US), Consumer Price Index production (US), crude oil inventories (US)

American profits: BRP Inc, Li-Cycle Holdings Corp

Important announcements scheduled for Thursday

Interims: Checkit PLC (AIM:CKT, OTC:ECKTF), Foresight Solar Fund Ltd (LSE:FSFL), Gresham House PLC (LSE:GHE), IGas Energy PLC (AIM:IGAS, OTC:IGESF), Oxford Biomedica PLC, Portmeirion (AIM:PMP) Group PLC, Regional REIT (LSE:RGL) Ltd, RTW Venture Fund Ltd (LSE:RTWG)

Finals: MJ Gleeson (LSE:GLE) PLC

AGM: Altitude Group PLC (AIM:ALT), Auto Trader Group PLC (LSE:AUTO), Blue Planet Investment Trust PLC, Civitas Social Housing PLC (LSE:CSH), FinnCap Group PLC, FRP Advisory Group PLC (AIM:FRP), Kinovo PLC (AIM:KINO), Predator Oil & Gas Holdings, Real Estate Credit Investments Ltd, Sosandar (AIM:SOS) PLC, Supreme PLC (AIM:SUP)

Economic Updates: Continuing Claims (US), Import and Export Price Indices (US), Initial Unemployment Claims (US), Philadelphia Fed Index (US), Sales Retail (US), Retail Sales less Autos (US), Capacity Utilization (US), Industrial Production (US), Trading Inventories (US)

American profits: Aurora Mobile Limited, Deswell Industries Inc.

Important announcements scheduled for Friday

U.S. Listed Revenues: Manchester United

AGM: Baillie Gifford US Growth Trust PLC, Kibo Energy PLC (LSE: KIBO, JSE: KBO)

Economic Updates: Retail Sales (UK), U. of Michigan Confidence Prelim (US)

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