Week Ahead: Central Banks, PMIs and Inflation in Focus (Sep 22–26) – Weekly Trends – 21 September 2025

📌 Mon, Sep 22

• 🇦🇺 RBA Governor Bullock speaks on policy outlook.

• 🇨🇳 Loan Prime Rates expected unchanged at 1Y 3.0%, 5Y 3.5%.

• 🇬🇧 BoE Governor Bailey speech in the evening.

📌 Tue, Sep 23

• 🇪🇺 Flash PMIs across France, Germany, and the euro area: manufacturing below 50, services near neutral.

• 🇬🇧 UK Flash PMIs: weak manufacturing (47.0) vs resilient services (54.2).

• 🇺🇸 US Flash PMIs: manufacturing 53.0, services 54.5; Richmond Fed index -7.

📌 Wed, Sep 24

• 🇦🇺 Australia CPI y/y 2.8%.

• 🇩🇪 Germany ifo Business Climate 89.0.

• 🇺🇸 US New Home Sales 652K.

📌 Thu, Sep 25

• 🇨🇭 SNB policy meeting: rate expected to stay at 0.00%.

• 🇺🇸 US data pack: Final GDP q/q 3.3%, durable goods (core +1.0%, headline -2.8%), jobless claims, existing home sales, GDP price index 2.0%.

• 🇯🇵 Tokyo CPI y/y 2.5%.

📌 Fri, Sep 26

• 🇨🇦 Canada GDP m/m -0.1%.

• 🇺🇸 US Core PCE (Fed’s preferred inflation gauge) +0.3% m/m, UoM sentiment 55.4.

Focus of the Week

Markets are set for a data-heavy stretch.

• Central banks: the SNB and RBA speakers may confirm a cautious stance, while BoE and Fed remarks will be parsed for any dovish hints.

• Activity data: Flash PMIs across Europe and the US will give the first read on September’s momentum.

• Inflation prints: Australia’s CPI and Japan’s Tokyo CPI could shape expectations for Asia-Pacific monetary policy.

• US macro: GDP revision, durable goods, and Core PCE will be pivotal for the Fed’s path, while housing data will test household resilience.

Overall, the week ahead combines policy signals and growth/inflation checks — a mix that could spark volatility across FX, bonds and commodities if surprises emerge.

📢 This update is part of Global Markets Pulse, your daily source for macro insights and trading context.

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