Wednesday preview: US Fed decision, UK CPI in the spotlight

Wednesday will bring with it the week's key risk event, the Federal Reserve's policy announcement.

In particular, investors are interested in towards how many interest rate cuts policymakers will guide towards in 2025.

A 25 basis point interest rate cut in the target range for the Fed funds rate to 4.25-4.50% at Wednesday's meeting is fully priced in.

So too that the Fed will opt not to cut again in January.

The policy announcement will be made at 1900 BST.

Earlier, at 0700 BST the Office for National Statistics will release consumer price data for the month of November.

Headline CPI is seen rising from 2.3% to 2.5% and from 3.3% to 3.4% at the core level.

Euro area CPI figures for the same month are also due out, at 1000 BST.

European Central Bank chief economist Philip Lane will deliver a speech at 0900 BST.

Wednesday 18 December

QUARTERLY PAYMENT DATE

CRH (CDI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Building Permits (US) (13:30)

Consumer Confidence (US) (13:30)

Crude Oil Inventories (US) (15:30)

Current Account (US) (13:30)

Harmonised Index of Consumer Prices (EU) (10:00)

Housing Starts (US) (13:30)

Housing Starts (US) (15:00)

GMS

Caledonia Investments, Renalytix (Reg S)

FINALS

IntegraFin Holding

EGMS

Ming Yang Smart Energy Group Limited Gdr (Each Repr 5 A Shs Rmb1) (Reg S)

AGMS

Beacon Energy NPV, Beeks Financial Cloud Group, DotDigital Group, Greatland Gold, Karelian Diamond Resources (CDI), Ovoca Bio (CDI), Wildcat Petroleum

UK ECONOMIC ANNOUNCEMENTS

Consumer Price Index (07:00)

MBA Mortgage Applications (US) (12:00)

Producer Price Index (07:00)

Retail Price Index (07:00)

FINAL DIVIDEND PAYMENT DATE

Baillie Gifford Japan Trust, Craneware, Croma Security Solutions Group, London Finance & Investment Group