Report News Agency: Weekly highlight of global economic news - TOP-5

Baku. 2 October. REPORT.AZ/ The most important global economic news of this week will be announced in the US, Eurozone, UK and Australia.

Analytical Group of Report News Agency has identified the five most important economic news stories of the week that may impact the global financial markets:

1) On October 5, at 00:15, Baku time, US Federal Reserve Chair Janet L. Yellen will address a conference in St. Louis on banking activity prepared by Fed. Prospects of Fed's monetary policy will be addressed. In addition, president of Federal Reserve Bank of New York William Dudley, the president and CEO of the Federal Reserve Bank of Dallas Robert Kaplan and President of the Philadelphia Fed Patrick T. Harker are expected to give a speech.

2) On October 6, the U.S. Labor Ministry will announce Employment Cost Index for September 2017, excluding agriculture. According to the consensus-forecast, employment rates will drop from 156,000 people in August to 100,000 in September due to Harvey and Irma hurricanes. The main focus will be on increasing the average hourly wages in September. If in August the increase was 0.1%, the September growth is expected to be 0.2%;

3) On October 4, at 21:15 Baku time, President of the European Central Bank (ECB) Mario Draghi, will address during the opening of the new ECB center in Frankfurt. Protocols on the outcomes of the September session of the ECB will be announced on October 5 at 15:30.

4) Today,  UK index of production, tomorrow - construction activity and on October 4 UK index of services will be announced. Although, a while ago, the chairman of the Central Bank of England said the discount rate could be increased in near-term meetings, but due to the GDP growth figures lower thatn predicted the probability has decreased. For this reason, economic indicators to be announced this week are important;

5) On October 3, at 08:30, the Australian Central Bank will announce its decision on discount rate. Analysts believe, Bank will not increase discount rate for the 13th time.