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

Baku. 26 February. REPORT.AZ/ The most important economic news for the global financial market of February 26-March 4 will be announced in the US, Eurozone, Great Britain and China.

Analytical Group of Report News Agency has defined below top 5 economic news that may influence global financial market this week:

1) On February 27 at 19:00 Baku time, US Federal Reserve System chief Jerome Powell will announce a six-month report on monetary policy and economic situation before the Senate and Congress. He will also address the Banking and Financial Services Committee at the Congressç the House of Representatives on March 1. The financial markets will carefully analyze J. Powell's speech and try to seek hints about rates;

2) On February 28, the United States will announce the final GDP growth indices for the fourth quarter of 2017. On March 1, the US Department of Commerce will disclose the income and expenses of individuals in January, the base price index for consumer prices. This figure is expected to increase by 0.3%. Fed uses base price index to predict inflation;

3) Today, the head of the European Central Bank (ECB), Mario Draghi, will address the European Parliament's Economic Committee in Brussels (Bachechi) at 18:00 Baku time. The February inflation forecast for the eurozone will be announced on February 28. The price increase is expected to be 1.2%. In January this figure was 1.3%;

4) Industrial production index in United Kingdom for February will be announced on March 1 in the UK. The index is expected to drop to 55 points from 56.3 recorded in January. Also, Prime Minister Theresa May will give a speech on the relations with the European Union after Brexit;

5) The business activity index for February in China's manufacturing sector will be released on February 28. The index higher than 50 points will be regarded as the continuation of economic growth.