This week is set to be full of significant business and finance events, with investors closely watching Chinese data, including first quarter GDP numbers, house prices, and retail sales. Expectations are for the economy to have grown 4.6% annually, which would be a rocky start for Beijing in meeting its growth target for 2024.
Meanwhile, India will also be in the spotlight as the world’s largest democracy by population begins voting in national elections on April 19. Incumbent Prime Minister Narendra Modi seeks a third consecutive term, with results expected on June 4. Markets have rallied on hopes of policy continuity with Modi’s BJP-led National Democratic Alliance winning key state elections in December.
The ditched bets for a mid-year Fed rate cut will also dominate the news this week as September is now being seen as the likely start date for easing due to a strong economy and sticky inflation. All eyes will be on U.S. consumer data, including retail sales and earnings reports from companies like Bank of America, American Express, and Discover Financial Services.
Finance ministers and central bank governors from around the world will meet in Washington, D.C., for the annual Spring Meeting of the IMF and World Bank. Reports on economic outlook and financial stability will be released, and G20 and G7 policymakers will also gather to discuss a range of topics. It will be a busy and eventful week in the world of business and finance.
