Will there be surprises in Jackson Hole?

Will there be surprises in Jackson Hole? What are the experts' expectations?

Investors are still closely watching the most important event of the week: the Jackson Hole (Wyoming, USA) symposium held annually by the Federal Reserve Bank of Kansas. US Federal Reserve Chairman Jerome Powell will appear at 5:05 PM ET. Christine Lagarde, President of the European Central Bank, will also speak at 10:00 PM Riyadh time.

Analysts at Link Securities noted that "in principle, we don't expect Powell or Lagarde to 'dwell' on interest rates and monetary policy, mainly because we believe things are not clear to them at this point."

These analysts added: “Thus, it remains to be seen how strong and sustainable the apparent recovery in economic growth in the United States will be, as well as, on the contrary, to what extent European economies will weaken and what effect all this can have on the development of inflation, which is reverberating in Continue to decline, at least in the services component.

These analysts emphasized: “For this reason, we hope that the two officials will suffice with linking future measures regarding the official interest rates of both central banks to the data and macroeconomic indicators that have become known, without specifying the number of additional increases that they will implement before the end of the year.” Of course, if some investors expected Powell and Lagarde to finish raising interest rates today, we think they will be very disappointed."