The big picture
Central banks are splitting along the fault line of inflation persistence. Norges Bank defends a policy rate 2pp above Sweden and Denmark, forecasting a rise to 4.5% by year-end, while the ECB keeps rates unchanged even as the Middle East conflict pushes energy prices higher and risks to inflation tilt upside. The Bank of Korea hikes to 4.25% on stronger growth, underscoring the divergence. Meanwhile, the Fed's balance sheet is quantified as a repo market force, with a substantial amount of coupon issuance raising repo rates by 3.9bp.
On the watchlist
- 2026-09-01: Norges Bank's next policy decision, whether the rate forecast of 4.5% is confirmed.
- 2026-09-10: ECB Governing Council meeting, whether the energy shock triggers a rate change.
- 2026-09-15: Bank of Korea's next meeting, whether the 4.5% base rate holds.
- 2026-10-01: China's September industrial profits release, whether the 2% pace persists.
- 2026-09-30: Delivery Hero shareholders' acceptance of Uber's 4.25% offer, whether the minimum threshold is met.
Top stories
2Fed balance sheet effects on repo rates quantifiedRates & Bonds
— Fed
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Deep dives
ECB holds rates as energy shock loomsLongread
— ECB · Banco de España
In brief
Rates & Bonds 35 items
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Speech | 27.8.2026 | Tuomas Välimäki Esko Antola lecture: Digital euro – a European alternative for digital payments — Bank of Finland
Government guarantee for the 4th year 19th Local Public Finance Organization Bonds — Ministry of Finance (Japan)
Producer Price Index (PPI) registers an increase of 5.09% in July 2026 — Instituto Nacional de Estadística (Bolivia)
Monetary developments in the euro area: July 2026 — Banca d'Italia
Has UK food inflation been under the weather? — Bank Underground (BoE)
Supplementary forecast information on the costing of government response to the loan charge independent review — Office for Budget Responsibility (UK)
Real wages in the 2nd quarter of 2026 1.5% higher than in the same quarter of the previous year — Destatis
Press Release No 23 – RBF Maintains the Overnight Policy Rate — Reserve Bank of Fiji
Prices of old share dwellings fell 3.4% from a year earlier in July 2026 — Statistics Finland
Deputy Governor gives a talk at the autumn meeting of the Housing and Construction Authority — Financial Supervisory Authority (Iceland)
Consumer confidence improved to its long-term average in August 2026 — Statistics Finland
In the second quarter of 2026, GDP is 1.7% higher in real terms compared to the same quarter of 2025. 27.08.2026. — Croatian Bureau of Statistics
New capital expenditure down 3.6 per cent in June — Australian Bureau of Statistics
Housing debt has become slightly more expensive — Danmarks Nationalbank
Expenditure of the 'General Government' sector by functions of the Classification of the Functions of Government (COFOG) - 2024 — National Statistical Institute (Bulgaria)
Indicators for Core CPI — BoJ
3,600 more employees in June — Statistics Denmark
Services producer price index, II quarter 2026 — Agency for Statistics (Bosnia-Herzegovina)
March 2026 Consumer Price Index — Department of Statistics (Bermuda)
Equities & Sectors 4 items
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Semiconductor sector in the Netherlands was worth €46 billion in 2025 — Statistics Netherlands (CBS)
METI requested Chubu Electric Power Co., Inc. to submit a report under the Reprocessing and Decommissioning Contribution Act — Ministry of Economy Trade and Industry (Japan)
Commodities & Energy 3 items
Publication of a Determination Issued Pursuant to Executive Order 13902. — U.S. Federal Register (Finanzaufsicht, Regeln und Entwuerfe)
Vice-Minister Yamada met with Chilean Foreign Minister Pérez — Ministry of Economy Trade and Industry (Japan)
Citrus Fruits — USDA National Agricultural Statistics Service (Today’s Reports)
FX & Emerging Markets 5 items
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Remittances received fall compared to 2025 and 2024 — Central Bank of Bolivia
Regarding the removal of transaction limits — Nepal Rastra Bank
Read more... — National Bank of the Kyrgyz Republic
Regulation & Structure 24 items
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Ministers to boost innovation in payments with new objective for Bank of England — HM Treasury (United Kingdom)
Policy paper: Inheritance Tax on Pensions: Technical Note 2 — HM Revenue & Customs (United Kingdom)
First cohort of GenA.I. Sandbox++ — Hong Kong Monetary Authority
UK CBAM: Current qualifying carbon pricing schemes — HM Revenue & Customs (United Kingdom)
Submission by Agnieszka Kraszewska of a request for reconsideration of the case — Polish Financial Supervision Authority
The Governing Council of the BNB adopted a decision to implement the Guidelines amending Guidelines EBA/GL/2016/07 on the application of the definition of default under Article 178 of Regulation (EU) No 575/2013 (EBA/GL/2026/05) — Bulgarian National Bank
Publication of Iran-Related Web General Licenses AA and BB — U.S. Federal Register (Finanzaufsicht, Regeln und Entwuerfe)
Public Notice No. 9 of 2026 – Unlicensed Money Lending and In-house Financing Activity under the Financial and Corporate Service Providers Act — Securities Commission of The Bahamas
Circular No. 1 (Ga) 83/84: Amendment/Modification/Addition to the Unified Directive issued by Nepal Rastra Bank to Class 'Ga' Microfinance Financial Institutions, 2082 — Nepal Rastra Bank
Circular CSSF 26/915 27 August 2026 - CSSF circular — Commission de surveillance du secteur financier (Luxembourg)
CVM technical areas provide guidance on the application of CVM Resolution 244, which amended CVM Resolution 193 — Comissão de Valores Mobiliários (Brazil)
Consultation Paper on Secondary Listing of Exchange Traded Funds in IFSC — International Financial Services Centres Authority (India)
Monthly plenary meeting of the Bank Lawyers Committee — Comisión Nacional de Valores (Argentina)
Other market topics 8 items
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Fewer people granted support for disability car — Statistics Denmark
Protecting your savings — Autorité des marchés financiers (France)
Appeal to all to provide financial support to the Prime Minister's Natural Disaster Relief Fund and the Prime Minister's Relief Fund — National Statistics Office (Nepal)
Household spending rises for third month in a row — Australian Bureau of Statistics
FSC reminds the public of precautions regarding public liability insurance — Financial Supervisory Commission (Taiwan)
More details... — National Bank of the Kyrgyz Republic
CONSOLIDATED FISCAL INDICATORS OF GENERAL GOVERNMENT (Progressive data) — Institute of Statistics (Albania)
No direct market impact 19 items
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National Security Space: DOD Has Opportunities to Improve Its Use of Commercial Data and Related Services — U.S. Government Accountability Office
Guidance: Critical Minerals Programme: Critical Minerals Accelerator — Department for Business and Trade (United Kingdom)
Monthly Economic Highlights - June 2026 — Central Bank of Belize
Policy paper: Welsh Rates of Income Tax outturn reconciliation for 2024-25 — HM Treasury (United Kingdom)
Accredited official statistics: Capital Gains Tax statistics — HM Revenue & Customs (United Kingdom)
Activity report of the BCEAO - 1986 — Central Bank of West African States (BCEAO)
Research: Analysis of Ukrainian nationals entering employment in the UK — HM Revenue & Customs (United Kingdom)
Young people not in education, employment or training (NEET), UK: August 2026 — Office for National Statistics (United Kingdom)
Economic activity and social change in the UK, real-time indicators: 27 August 2026 — Office for National Statistics (United Kingdom)
Financial measures for disasters caused by heavy rain from August 27, 2026 (Toyama Prefecture) — Bank of Japan
Orange Flood in China from: 22 Aug 2026 01 to: 26 Aug 2026 01. — GDACS (UN/EU Global Disaster Alert and Coordination System)
2026 Q2 Household Income and Expenditure Survey Results Press Release □ (Income) Average monthly household income was 5.295 million won, up 4.5% from the same quarter last year (real income.. 2026-08-27 — Ministry of Data and Statistics (South Korea)
Seminar: How buyers and sellers meet in the housing market — Financial Supervisory Authority (Iceland)
27 August — Bureau of National statistics (Kazakhstan)
Guidance: Construction Industry Scheme: CIS 340 — HM Revenue & Customs (United Kingdom)
Strategic export controls: licensing statistics — Department for Business and Trade (United Kingdom)
Read more — Central Bank of Cuba