In Brief: major data releases of the week
Wednesday, 28 January 2026
-Australia CPI: More fuel for the AUD rally? The RBA focus is on the trimmed mean with consensus expecting a rise of 0.8% q/q and 3.2% y/y. Economists say that has upside risks which would further boost the current near 60% chance of a February rate hike.
-Bank of Canada Meeting: Money markets expect the bank to keep rates steady at 2.25%, in fact for at least the first half of 2026. Policymakers will balance up elevated trade and tariff policy uncertainty with core inflation in the mid-2% range.
-FOMC Meeting: After the 25bps cut in December, the Fed will sit on its hands and keep rates at 3.5-3.75%. The economy remains resilient with sticky, above target inflation while job growth has stalled. Any clues on the timing of another cut will be watched, but little guidance is expected. Comments on the Fed’s independence will likely grab the headlines.
Friday, 30 January 2026
-Tokyo CPI: This data is the forerunner to nationwide inflation. The latter is projected to print at 2.7% in 2025, according to the latest BoJ forecasts. Officials view the recent weakness of the yen as increasing inflationary pressures. There is around a 53% chance of a rate hike in April.
