Fed, ECB rate decisions and U.S. GDP headline the week ahead

The releases that matter

The Fed announces its rate decision on Wednesday, Oct. 28, which opens the busiest stretch of the week for rate-sensitive markets. The upper bound of the federal funds target range was 4% after the meeting on September 16, 2026, when it rose from 3.75% set on July 29, 2026. See the FOMC rate decision calendar for the release details and timing.

The U.S. Bureau of Economic Analysis publishes its gross domestic product report on Thursday, Oct. 29, 8:30 a.m. ET (12:30 GMT), giving traders the latest read on the size of the U.S. economy. The release comes at the same hour as the personal income and outlays report, which gives that Thursday morning two major U.S. data points at once. Check the US GDP calendar for the release details and the full schedule.

The U.S. Bureau of Economic Analysis releases its PCE price index, year on year, on Thursday, Oct. 29, 8:30 a.m. ET (12:30 GMT). The previous reading was 3.4% for August 2026, which fell from 3.7% for July 2026. Traders watch it because a firm print could bear on the dollar and Treasury yields through the rates channel, and the US personal income and outlays calendar lists the release.

The ECB announces its rate decision on Thursday, Oct. 29, one day after the Fed and in the same week as the U.S. inflation data. The deposit facility rate was 2.50% after the meeting on September 10, 2026, when it rose from 2.25% set on July 23, 2026. Follow the ECB rate decision calendar for the exact timing of the announcement.

The euro area GDP flash estimate is published on Friday, Oct. 30, the final major release of the week and the closing event after the central bank decisions. The flash estimate is the first reading of growth in the currency bloc, and later releases can revise it as more data arrives. Open the Euro area GDP flash estimate calendar for the release details.

Central banks

Two central banks meet this week. The Fed decides on Wednesday, Oct. 28, and the upper bound of its federal funds target range was last set at 4% on September 16, 2026. The ECB decides on Thursday, Oct. 29, and its deposit facility rate was last set at 2.50% on September 10, 2026.