Meetings of central bankers and warlords

This article is a local version of our The Week Ahead newsletter. Subscribe here receive a newsletter directly to your inbox every Sunday

Hello and welcome to the work week.

Now seems like a good time for central bankers to come together and discuss ways to get their economies out of the global inflationary crisis. So thank God for the annual European Central Bank Forum on Central Banks, a gathering among the palaces in the beautiful town of Sintra on the Portuguese Riviera to discuss the challenges of monetary policy in a rapidly changing world: a title that organizers admit was only recently agreed upon. given the, uh, fast-paced world that Eurozone economies are now facing. Federal Reserve Chairman Jay Powell, World Trade Organization Chairman Ngozi Okonjo-Iweala and Bank of England Governor Andrew Bailey are among the first speakers.

Geopolitical summits are once again the topic of this week. NATO will meet Tuesday in Madrid for a three-day discussion, including its expansion after Russia’s invasion of Ukraine. Topics for discussion include maintaining support for Ukraine, strengthening partnerships and keeping doors open, and strengthening transatlantic unity.

It is also a week dedicated to the Constitution Day of Ukraine, the country’s public holiday commemorating the founding of an independent state in 1996.

Speaking of division, Scottish First Minister Nicola Sturgeon is expected to detail how she plans to hold a second independence referendum on Tuesday. Read Robert Shrimsley. excellent opinion understand the reasons why Sturgeon chose to do this now. The future of Britain is the subject of discussion at a conference held in London and organized jointly by the Tony Blair Institute and the British Project, a cross between a campaign group and a think tank.

Of course, the reorganization of countries is a contentious issue that will no doubt be discussed on Friday, the 25th anniversary of the handover of Hong Kong by the UK to China. The story of journalist-turned-political activist Claudia Mo, vividly told in FT magazine this weekendrecalls the battles that have been fought and ultimately lost by those who have sought to maintain the autonomy of the urban region over the past quarter century, although that will not stop protesters from taking to the streets on Friday.

This week also sees the release of the next edition of the British summer of discontent with lawyers leaving on Monday in an ongoing protests against cuts in legal funding – although the DOJ doubts this, saying that criminal legal aid is being increased by £135m a year. Postal workers may follow lawyers to pickets as the telecoms union sends out strike ballots to more than 115,000 of its members this week.

Need more light entertainment? Well, it’s a good week for major sports tournaments with the start of the two-week Wimbledon and the Tour de France starting this year in Copenhagen. The FT also published its list summer reading tips.

Thanks again for your posts about this newsletter. If you don’t have any comments yet, or if you’d like to talk more about what deserves and doesn’t deserve a mention, email me at

Economic Data

This week’s consumer confidence reports, inflation and gross domestic product data will provide some insight into the effectiveness of the various monetary tightening measures in place and will no doubt give central banks in Sintra food for thought.

This week the central banks of Sweden and Hungary are making decisions on interest rates.


A quieter week for daily corporate announcements. All of the most important earnings announcements come from the US. Investors in Nike, a global sports brand, may be more interested in top management than numbers. Nike Head of Variety Felicia Mayo leave the company at the end of next month, after just two years in that role.

Key economic and corporate reports

Here’s a more comprehensive list of what to expect in terms of company reports and economic data this week.


  • Annual European Central Bank Forum on Central Banks starts in Sintra, Portugal

  • US, durable goods orders data for May

  • Results: Nike Q4


  • France, consumer confidence indicators

  • Germany, consumer confidence indicators

  • Hungary, interest rate decision

  • United Kingdom, Office for National Statistics publishes first results according to the 2021 census in England and Wales

  • US Monthly Consumer Confidence and House Price Index


  • Germany, preliminary consumer price index (CPI) data

  • Japan, retail sales for May

  • Spain Flash Inflation & Retail Sales Data

  • Sweden, Riksbank Monetary Policy Meeting

  • United Kingdom, British Retail Consortium Store Price Index

  • UK and chief EU Brexit negotiator Maros Sefcovic will speak at Bloomberg’s London headquarters on the EU-UK partnership.

  • USA, 1Q GDP data

  • Results: General Mills Q4


  • Canada, GDP data for April

  • EU unemployment data for May

  • France, Producer Price Index (PPI) data for May and CPI data for June

  • Germany, June unemployment data, May import prices plus May retail trade data. Also the speech of ECB President Christine Lagarde at the first meeting of the Simone Weil Pact organized by Renew Europe.

  • Italy May Unemployment Data Plus May PPI Data

  • Japan, industrial production data for May

  • UK, final 1Q GDP and Consumer Trends Report and Nationwide House Prices for June

  • Results: Alliance Walgreens Boots Q3


  • China, France, Italy, UK, USA: Caixin and S&P Global Purchasing Managers Index (PMI) data

  • The ECB will end its long-standing bond-buying scheme, which is part of stimulus measures introduced a decade ago to help fight stubbornly high inflation.

  • EU releases inflation data for June

  • Italy, CPI data for May

  • Japan, monthly unemployment rate

  • United Kingdom, consumer credit indicators

  • USA, construction spending statistics

World events

Finally, here’s a rundown of other events and milestones this week.


  • United Nations Ocean Conferenceco-sponsored by the governments of Kenya and Portugal, starts in Lisbon.

  • UK, Wimbledon tennis tournament kicks off at All England Lawn Tennis and Croquet Club in southwest London amid controversy over ban russian players

  • In the UK, lawyers who are members of the Criminal Bar Association go on strike in escalating dispute with the government about funding the trials. A strike by criminal lawyers is likely to lead to widespread disruption of court hearings in England and Wales.


  • France, the new National Assembly is holding its first session since the results of the 12 June parliamentary elections created hanging parliament – read Martin Sandbu (premium) Newsletter with Free Lunch for a more complete explanation. In addition, new Australian Prime Minister Anthony Albanese is due to visit Paris to “reset” relations with France after tensions flared over the collapsed submarine deal.

  • Spain, the NATO summit in Madrid begins with the expected presence of heads of government from 30 member countries and a discussion that includes bids from Sweden and Finland to join the military alliance. 2022 marks the 40th anniversary of Spain’s accession to NATO.

  • Ukraine, Constitution Day, dedicated to the anniversary of the signing of the Constitution of Ukraine in 1996.

  • UK, Mayor of London Sadiq Khan receives London state debate on the O2 at Greenwich plus the Henley Royal Regatta starts on the River Thames

  • U.S. British socialite Ghislaine Maxwell is set to be convicted after being found guilty in a sexual assault trial.


  • Belgium, the Ommegang festival, including a pageant reenacting the historic introduction of Charles V, begins in Brussels.

  • UK, The Climate Change Committee releases its 2022 Progress Report to Parliament assessing the UK’s chances of reaching zero by 2050. remove 542 advanced delivery managers against the backdrop of a broader restructuring.


  • Philippines, Ferdinand “Bongbong” Marcos Jr., son and namesake of infamous late dictator, takes office new president of the country

  • United Kingdom, The Future of Britain conference, organized by the Tony Blair Institute to discuss progressive solutions to the country’s problems, begins in London.


  • Brazil takes over UN Security Council presidency in July

  • Canada Day, a federal holiday commemorating the formation of the union of the British provinces of North America that created Canada in 1868

  • Denmark, Tour de France starts in Copenhagen. It will end on the Champs Elysees in Paris on July 24.

  • EU, Czech Republic takes over six-month EU presidency

  • Hong Kong, 25th anniversary of the former colony’s transition from British rule to Chinese rule.

  • India, annual Rath Yatra, or Chariot, Hindu festival

  • Rwanda, National Independence Day from Belgium

  • Somalia, National Day commemorating the creation of the country from British Somaliland and Italian Somaliland.

  • UK: Deadline for WikiLeaks founder Julian Assange to file an appeal against decision on his extradition in the United States on charges of espionage


  • Italy, Palio di Siena, the most famous (and controversial) horse racing in Italy, takes place in Piazza del Campo in Siena.

  • UK, 50th Anniversary of Pride in London

  • United States, World UFO Day is celebrated on the anniversary of the Roswell Incident in New Mexico in 1947.


  • Belarus, Independence Day

  • UK, The 134th annual Wenlock Olympic Games, considered to be the inspiration for the modern games, begins in Wenlock, Shropshire.

Trade secrets – A must read on the changing face of international trade and globalization. Subscribe here

Road to recovery – The impact of Covid on the global economy, markets and business. Subscribe here