The Week Ahead — October 26

The Federal Reserve announces its decision on Wednesday at 18:00 UK, the centerpiece of a week in which five G10 central banks set rates within three days and the UK presents its Budget.

The week at a glance

UK time	Event	Pair	Tier	Track record
Wed Oct 28
All day	UK Budget and OBR Economic and fiscal outlook	GBP/USD	—	—
00:3020:30 New York, Tue	Australia CPI (Sep)consensus 4.2% y/y · previous 4.0% y/y	AUD/USD	Tier 2	7.4x at 10 min · peak 10.8x · n=4
01:0021:00 New York, Tue	RBNZ Monetary Policy Review and OCR decision	NZD/USD	Tier 1	12.9x at 10 min · peak 18.5x · n=2
13:4509:45 New York	Bank of Canada rate decision and Monetary Policy Reportconsensus 2.50% · previous 2.25%	USD/CAD	Tier 1	5.0x at 10 min · peak 6.0x · n=2
18:0014:00 New York	Fed rate decision (press conference 18:30)consensus 3.75% to 4.00% (no change) · previous 3.75% to 4.00%	USD/JPY	Tier 1	14.9x at 10 min · peak 17.7x · n=3
Thu Oct 29
12:3008:30 New York	US GDP, Q3 advance estimateconsensus 3.2% annualized · previous 2.2% annualized	USD/JPY	Tier 2	5.6x at 10 min · peak 6.1x · n=3
12:3008:30 New York	US core PCE prices (Sep)consensus 3.1% y/y · previous 3.0% y/y	USD/JPY	Tier 2	5.6x at 10 min · peak 6.1x · n=3
13:1509:15 New York	ECB rate decision (press conference 13:45)consensus 2.50% · previous 2.50%	EUR/USD	Tier 1	5.0x at 10 min · peak 5.7x · n=3
Fri Oct 30
All day	BoJ rate decision and Outlook Report (time not fixed)consensus 1.25% · previous 1.25%	USD/JPY	Tier 1	14.1x at 10 min · peak 17.4x · n=4

UK times (GMT), with New York time alongside. Tier is the rating for the pair shown, by the move still in place ten minutes after the release: Tier 1 is 8 times a normal ten minutes or more, Tier 2 is 3 to 8 times, Tier 3 is 1.5 to 3 times, Tier 4 is less than that. Track record is measured since June 2026; fewer than 5 releases is too few to rate, so the tier shown is then the calibrated one. Consensus figures are a snapshot taken Sun 25 Oct 15:37 and can change. Dates and times are confirmed with the publisher. Five G10 central banks set rates this week. UK times are GMT from today; US clocks change on Sunday, November 1.

The RBNZ, the Bank of Canada, the Fed, the ECB and the Bank of Japan all decide between Wednesday and Friday, and the Fed's decision lands just before US third-quarter GDP and September core PCE prices on Thursday. The calendar may not set the tone on its own: according to media reports, Iran's Revolutionary Guard said this weekend that two tankers struck mines near the Strait of Hormuz, a claim no official source we could read has confirmed.

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