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Economic Calendar

Unemployment figures, company earnings reports and elections – keep track of key announcements and other events that could affect the markets. 

Monday 18 March to Sunday 24 March

BOJ Policy Decision

Tuesday, March 19

03:00 GMT

Japan's spring wage negotiations conclude, aligning with the Bank of Japan's goals to ease ultra-accommodative monetary policy. Companies agreed to significant pay raises, averaging over 4%, the highest in 30 years, surpassing last year's 3.6%. This is notable as smaller firms, major employers, typically offer lower raises. These increases might prompt a re-evaluation of the Bank of Japan's negative interest rate policy, aiming for sustained inflation near the 2% target. Reports suggest the BOJ is planning to end its negative interest rate policy at this meeting, but will there be another disappointment?

What to watch: JPY, Japan 225

FOMC Policy Decision

Wednesday, March 20

06:00 GMT

The Fed will update its economic forecasts (“Dot plots”) at this meeting. The December dot plot had a median estimate of 3 cuts this year. But in light of the strength in inflation, there is a chance that the median could drop to 2 cuts, and that could light a match under the US dollar’s bull fire. Following last week's unexpectedly high CPI report, Thursday's significant rise in producer prices appears to have solidified the stance on Fed policy for those who were undecided. However, despite these developments, Fed fund futures continue to indicate a 59% probability of a rate cut in June. While no rate cut is expected at this week’s meeting, the fact that the dot plots will get updated means it is very important for the dollar and markets in general. If the dot plot still has a median estimate of 3 cuts pr more this year, then that could send the dollar tumbling.

What to watch: USD, Gold

BoE Policy Decision

Thursday, March 21

12:00 GMT

In its first 2024 meeting, the Bank of England maintained the Bank Rate at 5.25%, as expected. However, dissent emerged with two policymakers advocating for a 25bps hike, while one member preferred a decrease. While stressing the need for sustained restrictive policy to achieve 2% inflation, the bank dropped hints of further tightening and recognised a more balanced inflation risk. Despite this, inflation indicators remain elevated, though services inflation and wage growth fell more than anticipated. The Bank anticipates gradual GDP growth recovery, attributed to reduced impact from previous rate hikes. CPI inflation is forecasted to briefly hit the 2% target in Q2 before rising in Q3 and Q4. No change in policy is expected but it is all about hints of cuts in the future.

What to watch: GBP, UK 100

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      Economic Calendar FAQs

      What is an economic calendar?

      An economic calendar is a diary that lists the upcoming economic releases and events that are likely to move markets in the coming weeks and months. It’s an essential tool for traders, helping you plan your strategy around when your chosen markets might be highly volatile.

      You can access the City Index economic calendar from within our award-winning Web Trader platform, making it easier than ever to strategise around upcoming events. All you need is a demo account or a live account.

      Learn more about fundamental analysis in the City Index Academy.

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      Why should I use an economic calendar?

      An economic calendar enables you to plan your trading around key market-moving events. This is important for any trader, as economic releases can quickly change market conditions and may throw your existing strategy off course.

      Some traders steer clear of the markets entirely when economic data is due to be released; others see the heightened volatility as the best time to trade. Either way, knowing precisely when events are set to land is key to trading successfully.

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      How do I use an economic calendar?

      By default, the City Index calendar will show you all the potential market-moving events in the coming days – including how important each event is, plus its previous and consensus figure. 

      By tapping ‘SHOW FILTERS’, you can tailor the calendar to your specific strategy. For example, you can choose to only see events from certain countries or categories. You can even choose to only see events that are expected to deliver high volatility.

      You can also amend the timeframe of the economic calendar with the ‘Displaying’ dropdown.

      Tap on any event for more information.

       
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