Thursday preview: BoE, US data in the spotlight

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Sharecast News | 20 Sep, 2023

All eyes on Thursday would be on the Bank of England's possibly last interest rate hike for the current tightening cycle.

Consensus was that at 1200 BST Bank would announce a 25 basis point hike in Bank Rate to 5.50% and leave the door open to further policy tightening - if needed.

Nonetheless, the downside surprise in consumer price data for August released just the day before meant that the language in the meeting minutes could be expected to be more neutral, said Samuel Tombs, chief UK economist at Pantheon Macroeconomics.

And the first rate cut? May 2024, Tombs added in a research note sent to clients.

Economists at BoA were less sanguine, anticipating no rate reductions before end-2024; however, they too expected Thursday's hike to be the BoE's last.

BoA was also anticipating that Bank would announce £100bn of quantitative tightening for over the next year.

The Monetary Policy Committee's vote was expected by the consensus to be split 7-3 between those in favour of the move and those who preferred to stand pat.

Previously, at 0830 BST, rate-setters in Zurich were also expected to hike by 25bp, raising official short-term interest rates to 2.0%.

The decision would be followed at 0930 BST by public sector net borrowing figures out of the UK for the month of August.

Stateside meanwhile, investors would be waiting on the latest weekly unemployment claims figures due out at 1330 BST.

In parallel, the Federal Reserve Bank of Philadelphia was to release the results of its regional factory sector index for September.

Existing home sales data for August would follow at 1500 BST.

Thursday 21 September

INTERIMS

Aquis Exchange , Chesnara, Corero Network Security, Fisher (James) & Sons, Gemfields Group Limited, JD Sports Fashion, Life Science REIT, Next, Octopus Renewables Infrastructure Trust , Strix Group , The City Pub Group

INTERIM DIVIDEND PAYMENT DATE

Rio Tinto, Schroders, Vanquis Banking Group 20

INTERIM EX-DIVIDEND DATE

Alpha Group International, Churchill China, Costain Group, Crest Nicholson Holdings, Dowlais Group, Driver Group, Elecosoft Public Limited Company, Essentra, FDM Group (Holdings), Fidelity European Trust, Forterra, Gamma Communications, Grafton Group Ut (CDI), Harworth Group, Highcroft Investment, Ingenta, JTC, Kenmare Resources (CDI), Keystone Law Group , Midwich Group, Mobeus Income & Growth 2 Vct, Oakley Capital Investments Ltd. (DI), Palace Capital , Property Franchise Group, Public Policy Holding Company, Inc. (DI) (REG S, CAT3), Restore, Robinson, Somero Enterprises Inc. (DI), STV Group, Thungela Resources Limited NPV (DI)

QUARTERLY PAYMENT DATE

Fair Oaks Income Limited 2021 Shs NPV

QUARTERLY EX-DIVIDEND DATE

Abrdn DIversified Income And Growth, Abrdn Private Equity Opportunities Trust, Real Estate Credit Investments Ltd, Regional REIT Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Current Account (US) (13:30)

Existing Home Sales (US) (15:00)

Initial Jobless Claims (US) (13:30)

Philadelphia Fed Index (US) (13:30)

GMS

Ascent Resources, Kore Potash, Molecular Energies

FINALS

CVS Group, DFS Furniture, Fonix Mobile , Life Science REIT

SPECIAL EX-DIVIDEND DATE

CQS Natural Resources Growth and Income , Hargreaves Services, Keystone Law Group

EGMS

AB Ignitis Grupe GDR (Reg S)

AGMS

Artemis Alpha Trust, Intercede Group, Invesco Asia Trust, Kainos Group , Liontrust Asset Management, Mercia Asset Management, Sosandar, Van Elle Holdings

TRADING ANNOUNCEMENTS

Halma, Investec

UK ECONOMIC ANNOUNCEMENTS

BoE Interest Rate Decision (12:00)

Public Sector Net Borrowing (07:00)

FINAL DIVIDEND PAYMENT DATE

Brickability Group , Heath (Samuel) & Sons, SSE, XPS Pensions Group

FINAL EX-DIVIDEND DATE

Brooks Macdonald Group, Eckoh, Hargreaves Services, IG Group Holdings, Jet2, Mattioli Woods, Redrow, Walker Crips Group

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