Weekly Outlook 29/10/18 to 2/11/18


Portuguese State Budget After going public more than a week ago, the main proposals regarding the Portuguese State Budget for 2019 will be discussed today and tomorrow at the Parliament. In spite of the wave of criticism from the center and right-wing parties, PSD and CDS, which have accused the Government of designing budgetary changes solely aimed at appealing to the electorate, the Budget should still be approved, as scheduled, by the end of November. The public deficit is set to stand at 0,2% next year.

England’s interest rate and inflation announcement The Bank of England is scheduled to reveal its latest policy decision next Thursday as it looks to update its forecasts for growth and inflation. Money markets do not expect the Central Bank to raise interest rates again until 2020, given the last increase from 0.5% to 0.75% in August. Nonetheless, investors will be looking for guidance on the official outlook on Brexit and inflation.

Additional Information

  • The Eurostat is set to release GDP annualized growth figures with respect to the month of July.

  • The US Bureau of Economic Analysis will announce the annualized Core Personal Consumption Expenditure relative to September.

  • The US Department of Labor will publish new figures on nonfarm payrolls and the unemployment rate, with respect to the month of October.

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