The Global Week Ahead: All the World's a Stage – Scotiabank Macro Research

Key Takeaways

• 1.US nonfarm payrolls for September are forecast to slow significantly to +75k with an unchanged 4.1% unemployment rate, following an artificially inflated August gain driven by seasonal adjustments and weather.
• 2.Canada's solid economic momentum (tracking ~2% q/q SAAR in Q3) and persistent above-target core inflation suggest the Bank of Canada should begin hiking rates toward neutral.
• 3.Central bank policy decisions feature an expected 25 bp hike by the Reserve Bank of Australia to 4.60%, while Colombia's BanRep is expected to hold at 12.00% amid high hawkish dissension risks.

Table of Contents

• Next Week's Risk Dashboard
• All the World's a Stage
• US Nonfarm Payrolls—Extrapolate or Dismiss?
• Canada's Economy—Solid Momentum?
• BoC Speeches Could Inform Policy Rate and Balance Sheet Plans
• Central Banks—Deuces Are Wild?
• RBA—Going Up Down Under
• BanRep—Will the Governor Win Out This Time?
• Global Macro—Inflation Is Everywhere
• Key Indicators for the week of September 28 – October 2
• Global Auctions for the week of September 28 – October 2
• Events for the week of September 2 – October 2
• Global Central Bank Watch

Report data

Energy Price Persistence Keeps Inflation Off Target and Hawkish Risks in Play

Reports in this series

The Global Week Ahead is shown in chronological order through this edition, published on September 25, 2026.

Part of the The Global Week Ahead series — view all 6 editions

1. Jun 18globalweekahead20260618
2. Jul 10globalweekahead20260710
3. Aug 14globalweekahead20260814
4. Sep 11globalweekahead20260911