ECONOMIC WEEK AHEAD: January 26–30

Central banks are back on center stage this week, with the Fed and the other major central banks on the calendar for rate decisions.

The Fed is widely expected to leave rates unchanged (Wed), defying President Donald Trump's calls for lower rates. And with ample justification. While events concerning Greenland and tariffs dominated the news last week, data showed the US grew at an upwardly revised 4.4% (saar) pace in Q3-2025 (from an earlier 4.3%). Core PCE inflation, meanwhile, picked up slightly to 2.8% y/y in November. Hardly numbers that call for another Fed rate cut.