Week InAdvance: July 18, 2022
Mon Jul 18 WEF's 'The New Champion Dialogues'. | Tue Jul 19 SEC oversight hearing. PRI passive strategy webinar. Yellen visits South Korea. | Wed Jul 20 IOSCO investor webinar. UK postal workers set to strike for three days. | Thu Jul 21 National Day public holiday in Belgium. ECB rate decision. Nord Stream 1 pipeline reopens?
The European Central Bank is expected to raise rates for the first time in more than a decade on July 21. Markets are pricing a 25-basis-point move, which would keep the Eurozone at negative rates despite surging inflation. President Christine Lagarde will discuss the decision and a new tool to combat yield spreads between European nations.
On Wednesday, the EU will unveil its contingency plan in case Russia doesn't resume gas flows through Nord Stream 1, which is scheduled to come back online Thursday after annual maintenance. In the UK, 2,400 Royal Mail workers plan to strike for three days, starting on Wednesday, to protest job and pay cuts.
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