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5} Events are expected on the world economy this week
15/1/2018 12:00 am [rtl]Capitals / agencies The third week of 2018 will witness several economic events expected in world markets, ranging from the OPEC report to China's economic growth data. The process of disclosing the results of business in the countries of the world, as well as several meetings in central banks to make decisions on monetary policy. OPEC report The Organization of Petroleum Exporting Countries (OPEC) is due to announce its monthly output for the last month of 2017 on Thursday . In November, OPEC output fell to a six-month low, supported by falling supply from Saudi Arabia and Angola, which fell 133.5 thousand barrels to 32.44 million bpd. The Organization of Petroleum Exporting Countries agreed at the end of last November to extend the reduction of oil production until the end of this year. China's economy China reports GDP growth data for the fourth quarter of last year on Thursday. In the three-month period ending in September, China's gross domestic product rose by 6.8 percent year-on-year. China's economy is forecast to grow by 6.7 percent in the fourth quarter. In December, the World Bank raised its estimate of China's economic growth in 2017 to 6.8 percent from its previous estimate of 6.5 percent, while the bank kept its forecast for slowing economic growth in China in 2018 and 2019 at 6.4 percent and 6.3 percent respectively. Business results Global companies and banks continue to announce their financial performance this week. A group of banks are due to release their quarterly report this week, including Bank of America, Goldman Sachs, Citigroup, Morgan Stanley and IBM. Last week, JPMorgan Chase reported a 37 percent drop in profits in the fourth quarter of 2017, driven by a non-recurring impact of the US tax reform plan . The US budget The US Congress is due to pass the public budget before 19 this month or the government will be temporarily closed . Last December, US President Donald Trump signed a short-term bill to finance the federal government until January 19 . Central banks The central bank of Canada will meet next Wednesday with expectations of a 0.25 percent rate hike to 1.25 percent. In 2017, the Canadian central bank made two interest rate decisions in July and September for the first time since 2010. Monetary policy officials in central banks also meet in Turkey, Indonesia and South Africa to set interest rates. In the US, the Fed's Beige Book report is released on Wednesday. In 2017, the Fed took three decisions to raise interest rates.[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=151033[/rtl] |
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