Below are the most important events in Europe, the Middle East and Africa likely to affect FX and bond markets in the week ahead.

After a week of multiple central-bank decisions around the globe, focus now turns to economic data as investors seek clues as to their next moves.

U.S. and eurozone economic data will be closely watched as uncertainty remains about when the Federal Reserve and European Central Bank are likely to start cutting interest rates.

Trade is likely to be muted heading into the Easter weekend, with Good Friday a public holiday in many countries, especially in Europe.


EUROZONE


Provisional inflation figures for March from Spain on Wednesday, Belgium on Thursday, and France and Italy on Friday will be closely watched as investors gauge the extent to which price growth is slowing in the eurozone.

A sluggish eurozone economy has shown signs of recovery recently. Confidence surveys could indicate whether this recovery is gaining traction, including Germany's forward-looking GfK consumer climate survey for April on Tuesday, eurozone business and consumer surveys for March on Wednesday and French consumer confidence for March on Wednesday.

French consumer spending data for February are also due on Friday.

European government bond issuance will slow in the week heading into Easter. In the eurozone, the Netherlands will auction bonds on Tuesday, Italy on Wednesday, while Germany on Tuesday and Wednesday. Germany has two auctions, tapping 2025- and 2033-dated green bonds on Tuesday, and 2030-dated Bunds on Wednesday, offering altogether EUR5 billion.


U.K.


The coming week is a quiet one in the U.K., with just the second estimate of fourth-quarter GDP due on Thursday.

The Bank of England left interest rates unchanged at its March meeting but said conditions for lower rates were "moving in the right direction." Money markets are fully pricing in a rate cut in August, with a significant chance of an earlier reduction in June, and the timing of this will depend on whether or not data show the U.K. economy remains strong and the extent to which inflation comes down.

The Debt Management Office will auction gilts maturing in 2028 on Tuesday.


SWEDEN


Sweden's central bank, the Riksbank, announces its latest policy decision on Wednesday and is expected to leave its key interest rate unchanged at 4.0%, with focus on the likely timing of a rate cut. Recent data showed Swedish inflation in February fell more than forecast, potentially leaving the door open for rate cut in May or June, analysts say.

March consumer confidence is due on Tuesday, February foreign trade on Wednesday and retail sales data for February on Thursday.

Sweden has penciled in a bond auction for Wednesday.


HUNGARY


Hungary's central bank announces a rate decision on Tuesday.


SOUTH AFRICA


South Africa's central bank announces a rate decision on Wednesday.


--Additional reporting by Emese Bartha, Dominic Chopping and Miriam Mukuru


Write to Jessica Fleetham at jessica.fleethma@wsj.com and Fabiana Negrin Ochoa at fabiana.negrinochoa@wsj.com


(END) Dow Jones Newswires

03-25-24 0414ET