What's happening in the world next week

European Central Bank meets on monetary policy

The European Central Bank Governing Council meeting on monetary policy will be held in Frankfurt on Oct 25, followed by an interest rate announcement.

ECB President Mario Draghi will deliver a keynote presentation at the end of a conference on "Understanding inflation dynamics: the role of costs, mark-ups and expectations."

Germany has slashed its growth forecasts amid concern by ECB policymakers that the bank is underestimating the impact of a global trade war on the Eurozone.

In darkening signs for EU growth, Chancellor Angela Merkel's government on Oct 11 confirmed it expected Germany to grow just 1.8 percent this year, compared with an earlier forecast of 2.3 percent. Berlin also said growth next year was expected to be 1.8 percent instead of 2.1 percent.