Three major central banks headline the week, with the Federal Reserve, Bank of England and Bank of Japan all delivering rate decisions inside 48 hours. UK and Canadian inflation prints fill in the gaps.

Monday & Tuesday: Inflation opens the week

Canada CPI m/m (Mon 12:30 UTC) measures the monthly change in consumer prices. Forecast is -0.1%, down sharply from the prior 0.5%. Median CPI y/y is seen holding at 2.0% and Trimmed CPI y/y at 1.9%, both unchanged from previous. The set drives CAD pairs.

UK Claimant Count Change (Tue 06:00 UTC) tracks the change in people claiming unemployment benefits. Forecast is 8.3K after a prior -11.0K reading, a swing that speaks to a softening labour market. GBP is the pair in focus.

Wednesday: UK CPI, then the Fed

UK CPI y/y (Wed 06:00 UTC) is the headline inflation gauge. Forecast is 3.1%, up from 2.9% previously β€” a hotter print landing the day before the Bank of England decides. It moves GBP.

Federal Funds Rate (Wed 18:00 UTC) is the week’s marquee event. The previous rate stood at 3.75%. Alongside the decision come the FOMC Economic Projections and Statement, with the Press Conference at 18:30 UTC. This cluster is the single biggest driver for USD pairs, indices and metals.

New Zealand GDP q/q (Wed 22:45 UTC) measures quarterly economic output. Forecast is 0.1%, a steep slowdown from 0.8% prior. NZD pairs react.

Thursday: Bank of England

BoE Monetary Policy Summary, MPC Votes and Official Bank Rate (Thu 11:00 UTC) land together. The Official Bank Rate is forecast to hold at 3.75%, unchanged from previous, with the vote split expected at 3-0-6 β€” matching the prior meeting. The commentary, coming a day after the CPI print, is the main event for GBP.

Friday: Bank of Japan

BoJ Policy Rate (Fri 02:30 UTC) carries a forecast of <1.25%, up from the previous <1.00% guidance, alongside the Monetary Policy Statement. The BoJ Press Conference follows at 05:30 UTC. JPY pairs are the ones to track.

What to watch

The Fed’s projections on Wednesday and the BoJ’s guidance on Friday bracket the week for the dollar and yen. UK inflation on Wednesday feeds directly into the Bank of England decision the next day, keeping GBP active across both sessions.