Robert J. Williams 
Five central banks announce interest rate decisions between Wednesday 28 October and Friday 30 October, and currency markets barely moved into the week. The euro traded around $1.122, sterling around $1.3385, and the US dollar index stood at 101.64 in Reuters reporting published at 03:06 GMT on Monday 26 October.
Reuters named the Federal Reserve, the European Central Bank (ECB) and the Bank of Japan (BOJ) among the five. LiteFinance’s weekly economic calendar lists the Bank of Canada and the Reserve Bank of New Zealand (RBNZ) as the other two. Four of the five meet on Wednesday or Thursday, so the decisions arrive close together.
Which central banks decide on interest rates this week?
| Central bank | Decision | Current rate | Expected outcome |
|---|---|---|---|
| Federal Reserve | Wed 28 Oct, 2:00 pm ET | 4.00% | Hold at 4.00% |
| Bank of Canada | Wed 28 Oct, 9:45 am ET | 2.25% | Possible pause |
| RBNZ | Wed 28 Oct | 2.75% | Another hike, or no change |
| ECB | Thu 29 Oct, 14:15 Frankfurt time | 2.40% main refinancing, 2.25% deposit facility | Pause, or a hawkish tone |
| Bank of Japan | Fri 30 Oct, around midday Tokyo | 1.25% | Unchanged |
Rates and expected outcomes: LiteFinance weekly economic calendar, 26 October to 1 November 2026. Meeting times: published central bank schedules.
Where are the major currencies trading?
EUR/USD was near 1.122 and GBP/USD near 1.3385 in the early session on 26 October, according to Reuters. The dollar index eased to 101.64. Reuters described the moves across major currencies as narrow ranges while investors waited on the decisions.
The Fed, ECB and BOJ hold the most weight for those three prices. A Fed hold at 4.00% is what the calendar expects, and the BOJ is also forecast to stay at 1.25%. So the dollar and yen face statements more than rate changes.
What is the market expecting from the ECB?
The ECB is the one with a tone question attached. LiteFinance’s preview says the bank may turn hawkish or simply pause, and it ties that risk to high oil prices from the conflict in the Middle East. Energy costs feed straight into eurozone inflation, which is why oil shows up in a currency preview at all.
The same Thursday carries US third-quarter GDP and core PCE inflation at 12:30 GMT. PCE is the Fed’s preferred inflation gauge. Euro and dollar traders get two catalysts on one day.
Analyst Take
A week of mostly expected holds is not a quiet week. When the rate is already priced, the move comes from the wording. Does the Fed or the ECB leave room for another change? Does the BOJ say anything new about its 1.25% rate?
The ECB is the decision most likely to move the euro. The LiteFinance preview treats a hawkish tone as a live possibility, while the Fed and BOJ are called as straight holds. US inflation data landing the same Thursday adds to that.
The limits are plain. The Reuters summary gives no market pricing, and the expectations above come from a broker’s weekly preview, not a poll of economists. The central banks’ own statements will settle it.
What to watch this week
- Tuesday 27 October, 14:00 GMT: US consumer confidence.
- Wednesday 28 October: Bank of Canada, then the Fed at 2:00 pm ET. The RBNZ also decides.
- Thursday 29 October: US GDP and core PCE at 12:30 GMT, then the ECB.
- Friday 30 October: the BOJ decision, usually announced around midday Tokyo time.
This article is for information only and is not financial advice. Currency trading carries a high risk of loss.
About Author
