Global Week Ahead August 17 – August 23

Economics Research 16 August 2026 | 8:22PM EDT

Global Week Ahead: August 17 – August 23

We highlight our Economics teams’ forecasts of central bank decisions and economic data Jan Hatzius | for the coming week, including our most out-of-consensus views. Goldman Sachs & Co. LLC

Joseph Briggs n Central bank meetings: Central bank meetings: Central banks in Indonesia, | Egypt, and Sweden are scheduled to meet this week. Goldman Sachs & Co. LLC

Sarah Dong o Our forecasts are in line with consensus in: | Goldman Sachs & Co. LLC § Indonesia (GS: 5.75%, consensus: 5.75%, last: 5.75%) Megan Peters | § Egypt (GS: 19.0%, consensus: 19.0%, last: 19.0%). Goldman Sachs International

§ Sweden (GS: 1.75%, consensus: 1.75%, last: 1.75%)

n Key global indicators: Several key global indicators will be released this week, including the final Euro Area Core HICP, Japan Core CPI, Canada CPI, UK Core CPI, and the UK employment report. o We are stronger than consensus on: § UK Core CPI yoy (GS: 2.6%, consensus: 2.5%, last: 2.6%) o We are weaker than consensus on: § Canada Headline CPI yoy (GS: 2.8%, consensus: 2.9%, last: 2.8%)

n Our most out-of-consensus forecasts for the week: We have several out-of-consensus views (where our forecast differs from consensus by at least one standard deviation of the historical surprise) for other indicators this week: o We are most above consensus on: § France Manufacturing PMI (GS: 50.5, consensus: 50.0, last: 49.8) § UK Manufacturing PMI (GS: 51.9, consensus: 51.5, last: 51.9) § Japan Trade Balance (GS: -282.5 JPY bn, consensus: -649.0 JPY bn, last: -409.9 JPY bn) § Colombia Trade Balance FOB (GS: -1600.0 USD mn, consensus: -1935.0 USD mn, last: -1222.7 USD mn), § Argentina Economic Activity Index yoy (GS: 3.5%, consensus: 2.4%, last: 0.2%) § Brazil FGV Inflation IGP-10 MoM (GS: 0.29%, consensus: 0.18%, last: -1.13%) § South Africa Core CPI yoy (GS: 4.2%, consensus: 4.1%, last: 4.1%).

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Goldman Sachs Global Week Ahead

o We are most below consensus on: § Japan Imports yoy (GS: 21.0%, consensus: 25.1%, last: 25.4%) § Chile BOP Quarterly Current Account Balance (GS: -4000.0USD mn, consensus: -2500.0USD mn, last: 1882.7USD mn)

Our economics teams’ week ahead publications: Please refer to our macro teams’ week ahead publications in the US, Europe, Japan, Australia and New Zealand, Asia-ex Japan, CEEMEA, and LATAM for more details on the upcoming data releases and our forecasts.

Global Week Ahead: August 17 – August 23

Exhibit 1: Central Bank Policy Decisions

*Market pricing as of Friday close. See below for the methodology we use to compute market pricing.

Source: Goldman Sachs Global Investment Research, Bloomberg, Haver Analytics