Bank of England delays interest rate decision but ONS keeps economic data plans for coming week

A busy week of economic data, a Bank of England policy decision and corporate updates is scheduled for the coming week, though following the death of Queen Elizabeth some organisations have begun to postpone planned events.

The BoE said it was delaying the meeting of its monetary policy committee (MPC) for a week, until 22 September.

However, the week’s scheduled economic publications from the Office for National Statistics are due to go ahead as planned, “unless further changes are announced”.

These include the latest UK GDP, unemployment, inflation and retail sales data, which had been timed to arrive ahead of the MPC meeting.

Currently standing at a 40-year high of 10.1% and expected to keep rising, inflation will be the main story.

The BoE had forecast a peak of UK CPI at 13% in the fourth quarter of 2022, with some economists having predicted UK inflation could rise to a peak of 18% or above 20% earlier next year, but those predictions were made based on a planned £3,500 price cap.

As new prime minister Liz Truss has capped energy bills at £2,500 for two years, economists say inflation is likely to reach a lower peak, with some such as Barclays (LON:BARC) saying it may have peaked already.

This could help the economy avoid a long recession but is not anticipated to avert more potential interest rate rises in the coming year or two, as it is predicted to make it difficult for inflation to return to normal.

In the world of crypto, the big Ethereum ‘merge’ event is still anticipated to take place at some point.

Significant announcements scheduled for Monday

Interims: Abcam (AIM:ABC) PLC, Greencoat Renewables PLC (LSE:GRP), Kape Technologies PLC (LSE:KAPE), M P Evans Group PLC, SigmaRoc PLC (AIM:SRC)

Finals: Arcontech Group PLC (AIM:ARC), Made Tech Group PLC (AIM:MTEC), Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF)

AGMs: SDCL Energy Efficiency Income Trust PLC (LSE:SEIT)

Economic updates: Balance of Trade (UK), Gross Domestic Product (UK), Index of Services (UK), Industrial Production (UK), Manufacturing Production (UK)

US earnings: Oracle Corporation (NYSE:NYSE:ORCL), Legend Biotech Corporation

Significant announcements scheduled for Tuesday

Interims: Alfa Financial Software Holdings Ltd, Churchill China (AIM:CHH) PLC, Corero Network Security PLC (AIM:CNS), ENGAGE XR Holdings PLC, Fevertree Drinks (AIM:FEVR) PLC, Futura Medical PLC (AIM:FUM, OTC:FAMDF), Harworth Group PLC, IQGeo Group PLC (AIM:IQG), JTC PLC (LSE:JTC), Oxford Nanopore Technologies PLC (LSE:ONT), Property Franchise Group PLC, Smart Metering Systems PLC (AIM:SMS), Team17 Group PLC (AIM:TM17), Trustpilot Group PLC (LSE:TRST), VH Global Sustainable Energy Opportunities PLC (LSE:GSEO)

Finals: Gateley Holdings PLC (AIM:GTLY), Mattioli Woods PLC (AIM:MTW)

AGMs: Alpha Financial Markets Consulting PLC (AIM:AFM), Industrials REIT Ltd (LSE:MLI, JSE:MLI), Mercia Asset Management PLC (AIM:MERC), Rockwood Strategies PLC, Wizz Air Holdings PLC (LON:WIZZ)

Economic updates: Unemployment Rate (UK), Claimant Count Rate (UK), Consumer Price Index (US)

US earnings: PharmaCyte Biotech Inc, Core & Main Inc

Significant announcements scheduled for Wednesday

Interims: Advanced Medical Solutions Group (AIM:AMS) PLC, Artisanal Spirits Company PLC, Blackbird PLC (AIM:BIRD, OTCQX:BBRDF), Central Asia Metals PLC (AIM:CAML, OTC:CAMLF), Epwin Group PLC (LSE:EPW), Glenveagh Properties PLC (LSE:GLV), Itaconix PLC (LSE:ITX, OTCQB:ITXXF), Tullow Oil PLC (LON:TLW)

Finals: Diurnal Group PLC (LON:DNL), Dunelm Group PLC (LSE:LON:DNLM), ITM Power PLC (AIM:ITM), Redrow PLC (LSE:RDW)

AGMs: Augmentum Fintech PLC (LSE:AUGM), B90 Holdings (AIM:B90) PLC, Best of the Best PLC (AIM:BOTB), Dev Clever Holdings PLC (LSE:DEV), Fulcrum Utility Services Limited, Grafenia Plc (AIM:GRA), Hornby PLC (LSE:HRN), Lansdowne Oil & Gas (AIM:LOGP), Marlowe PLC (AIM:MRL), Purplebricks Group PLC (AIM:PURP), Sutton Harbour Group PLC

Economic updates: Consumer Price Index (UK), Producer Price Index (UK), Retail Price Index (UK), MBA Mortgage Applications (US), Producer Price Index (US), Crude Oil Inventories (US)

US earnings: BRP Inc, Li-Cycle Holdings Corp

Significant announcements scheduled for Thursday

Interims: Checkit PLC (AIM:CKT, OTC:ECKTF), Foresight Solar Fund Ltd (LSE:FSFL), Gresham House PLC (LSE:GHE), IGas Energy PLC (AIM:IGAS, OTC:IGESF), Oxford Biomedica PLC, Portmeirion (AIM:PMP) Group PLC, Regional REIT (LSE:RGL) Ltd, RTW Venture Fund Ltd (LSE:RTWG)

Finals: MJ Gleeson (LSE:GLE) PLC

AGMs: Altitude Group PLC (AIM:ALT), Auto Trader Group PLC (LSE:AUTO), Blue Planet Investment Trust PLC, Civitas Social Housing PLC (LSE:CSH), FinnCap Group PLC, FRP Advisory Group PLC (AIM:FRP), Kinovo PLC (AIM:KINO), Predator Oil & Gas Holdings, Real Estate Credit Investments Ltd, Sosandar (AIM:SOS) PLC, Supreme PLC (AIM:SUP)

Economic updates: BoE Interest Rate Decision+ Minutes (UK), Continuing Claims (US), Import and Export Price Indices (US), Initial Jobless Claims (US), Philadelphia Fed Index (US), Retails Sales (US), Retail Sales Less Autos (US), Capacity Utilisation (US), Industrial Production (US), Business Inventories (US)

US earnings: Aurora Mobile Limited, Deswell Industries Inc

Significant announcements scheduled for Friday

US-listed earnings: Manchester United

AGMs: Baillie Gifford US Growth Trust PLC, Kibo Energy PLC (LSE:KIBO, JSE:KBO)

Economic updates: Retail Sales (UK), U. of Michigan Confidence Prelim (US)