Central bank week: Fed, Bank of England and Bank of Japan, 15–18 September 2026
Three major central banks announce policy decisions within a few days of each other this week, so this thread is the place to talk through the week as it happens.
The schedule
- Federal Reserve: the FOMC meets on 15–16 September, with the decision, statement and new economic projections on Wednesday 16 September.
- Bank of England: Bank Rate decision on Thursday 17 September. In July the rate was held at 3.75% on a 6–3 vote, with three members preferring an increase to 4%.
- Bank of Japan: the policy meeting ran on 17–18 September. The policy rate had been 1.00% since the June increase; on 18 September the board voted 7–2 to raise it to 1.25% (report).
What changed going into the week
US consumer prices rose 3.4% in the year to August, with core inflation at 2.4%, and the European Central Bank raised its rates by a quarter point on 10 September. Energy prices remain a major factor, with Brent crude trading above $100 a barrel in early September.
How to use this thread
Post your plan before each release, not after: which pair, what you expect, and what would make you stay out. Keep it to your own reasoning, and no signals for others to copy. The economic calendar has exact times in your time zone.
Background: How to trade oil (WTI and Brent): supply, demand and rollover
Crude is the world's most political market, with two benchmarks, weekly inventory data and a rollover quirk that surprises new traders. Here is how it works and how to trade it.
What is the difference between WTI and Brent?
WTI is the US benchmark priced at Cushing, Oklahoma; Brent is the international benchmark priced in the North Sea. They move together most of the time, separated by a spread that reflects regional supply and logistics.
What moves the oil price the most?
Supply shocks — OPEC decisions, sanctions, shipping disruptions — produce the fastest moves. Demand trends, weekly US inventory data and the dollar set the slower background.
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A round-up of where the week stands, to keep the thread useful as it goes on.
Federal Reserve (16 September): the target range was raised by a quarter point to 3.75%–4.00% in a 12–0 vote, the first increase since July 2023. The projections show rates staying near 4% through 2027. Full report: Fed raises rates.
Bank of England (17 September): the decision comes after UK CPI inflation rose to 3.1% in August (report). In July three of the nine members voted for an increase, so the vote split matters as much as the rate.
Bank of Japan (18 September): raised the policy rate from 1.00% to 1.25% on a 7–2 vote, and with intervention in July USD/JPY still carries two kinds of event risk (report).
If you're posting a plan, the most useful format is: pair, what you expect, what would prove you wrong, and how you've sized for a wider range than usual.
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