Wednesday preview: Fed minutes, UK CPI in focus

The market spotlight in the middle of the week will be back on the Federal Reserve, as the US central bank releases the minutes from its most recent policy meeting.

Economists at Barclays Research expect that as with the minutes from the June FOMC meeting, this set of minutes will see the Fed reiterate its support for a shift towards inflation averaging.

"We will pay attention to whether the committee sees forward guidance as including thresholds on both unemployment or inflation and whether yield curve control has support," they added.

On home shores, at 0930 BST the Office for National Statistics will publish its estimate for consumer prices in July, the last before various government policies, including a temporary reduction in value added tax begin to distort CPI readings.

Further afield, rate-setters in Indonesia are due to meet to decide on interest rates.

Japanese foreign trade figures for July are also due out, together with data on core machinery orders in June.

Across the Channel meanwhile, the main release will be a final reading on Eurozone CPI for July, alongside a reading on the single currency bloc's current account deficit.

Wednesday 19 August

QUARTERLY PAYMENT DATE

British American Tobacco, Merchants Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

Current Account (EU) (09:00)

MBA Mortgage Applications (US) (12:00)

Wholesale Price Index (GER) (07:00)

AGMS

Albion Venture Capital Trust, Braemar Shipping Services, Gore Street Energy Storage Fund

UK ECONOMIC ANNOUNCEMENTS

Consumer Price Index (09:30)

Producer Price Index (09:30)

Retail Price Index (09:30)

FINAL DIVIDEND PAYMENT DATE

National Grid