Report analysts: Important global economic news of this week - TOP-5

Baku. 23 October. REPORT.AZ/ The most important global economic news this week will be announced in Eurozone, the US, the UK, Japan and Canada.

Analytical Group of Report News Agency has identified below the most important 5 economic news that could affect the world financial market:

1) The decision of the European Central Bank (ECB) on discount rate will be announced on October 26 at 3:45 pm Baku time. Notably, analysts do not expect the change in discount rate. The main focus will be on press conference by ECB head Mario Draghi, which will take 45 minutes after the decision. In this disclosures, investors will follow the announcements of how much the ECB's monetary expansion will begin to decline. According to sources that are aware of discussions in ECB, the monthly stimulus will be lowered from 60 bln EUR to 25-40 bln EUR and the program will be extended for another 9 months:

2) The US economic growth indicator for the third quarter will be announced on October 27. According to forecasts, GDP growth is expected to be 2.6%. In additon, tax reform process will be closely monitored. On October 26, applications for unemployment benefits and long-term commodities in US will be disclosed;

3) The UK's GDP growth indicator for the third quarter will be announced on October 25. Analysts forecast an increase of 0.3%.Thus, the annual growth of British economy will be 1.4%, which is slightly lower than the annual rate of the second quarter (1.5%). Also, the slowdown in GDP may lead to delays in plans to increase discount rate that can decrease pound sterling;

4) Inflation indicator for October to be announced on October 27 at 03:30 pm Baku time. Analysts predict annual inflation to be 0.8% that is below target (2%). As a result, the Central Bank of Japan is expected to continue its monetary stimulus, which can lead to decline in the yen;

5) On October 25, at 18:00, the decision on the discount rate of Bank of Canada will be announced. Experts are expected to keep discount rate at 1%.