Investors will once again be focused on Europe’s banking sector as several of the region’s biggest banks — Credit Suisse, Société Générale of France and Standard Chartered, which is based in Britain but generates much of its revenue in Asia — are expected to report their third-quarter results. Their results come as Deutsche Bank reported last week that it returned to a profit in the third quarter, providing some relief to investors after concerns about its stability. The bank is negotiating a settlement with the United States Justice Department in a case involving its underwriting of residential mortgage-backed securities. Chad Bray
ECONOMY
Fed to meet, but rate most likely to stay put.
Federal Reserve officials insist that their meeting on Tuesday and Wednesday in Washington will be like any other Fed meeting. They will look at economic conditions and decide whether the time has come to raise interest rates. This is a polite fiction. It’s a safe bet that the Fed will not raise rates until after the presidential election. The economic consequences of the election are uncertain; the politics are fraught, and even proponents of a rate increase have said they do not see much difference in waiting a few more weeks. The Fed may use its post-meeting statement to prepare investors for higher rates in December at its final meeting of the year. Binyamin Appelbaum
Bank of England to report an updated inflation forecast.
The Bank of England will announce its latest monetary policy decision and unveil its updated forecast for inflation on Thursday. A news conference by Mark Carney, the Bank of England governor, is to follow. The Monetary Policy Committee is widely expected to keep interest rates steady as the British economy has performed better than expected since Britain’s vote to leave the European Union in June. The Office of National Statistics said last week that Britain’s economy grew at a 0.5 percent rate from July through September. That was down from an increase of 0.7 percent in gross domestic product from April to June, but ahead of economists’ predictions.
In August, the central bank cut its benchmark interest rate to 0.25 percent, the lowest level in its 322-year history, and expanded other measures to bolster Britain’s economy over fears that the so-called Brexit decision could weigh on growth. The rate had remained steady at 0.5 percent since March 2009. Chad Bray
Final jobs report before Election Day.
On Friday, the Labor Department is scheduled to release its report on the nation’s hiring and unemployment for October. This snapshot of the economy will be the last before Americans go to the polls on Election Day. In September, employers reported adding 156,000 jobs — a showing that the Republican nominee, Donald J. Trump, called “a terrible jobs report” in the third presidential debate. Economists did not have quite as dire a view. The jobs engine is not roaring with as much energy as it has over the last five years, when monthly job growth on average surpassed 200,000, but with the unemployment rate down to 5 percent, job creation was expected to slow.
A recent report from the Federal Reserve Bank of San Francisco stated that monthly gains of 50,000 to 110,000 should be sufficient to keep the labor market healthy. Nonetheless, many Americans are working part time or for low wages or have become disheartened enough to drop out of the labor force altogether. Mr. Trump’s complaints resonate among these groups and others anxious about the future. A strong report for October, by contrast, could be used by Hillary Clinton to bolster her argument that the Democrats are best positioned to build on the job gains seen during the Obama administration.
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