Wednesday preview: US Fed rate decision, China data in the spotlight

Investors' focus will be on the Federal Reserve's latest interest rate decision which is scheduled for 1900 GMT.

Consensus going into the announcement is still for a 50 basis point hike in the target range for official short-term interest rates to 1.25-1.50%.

However, over recent days an increasing number of economists and analysts have tabled the possibility of a larger surprise 75bp hike and perhaps even 100bp.

The trigger for that shift was data published on 10 June revealing an increase in American consumers' inflation expectations one and five years' out.

Also due out on Wednesday is a slew of economic indicators in the US, including a reading for retail sales during the month of May, but they are likely to be overshadowed by the wait ahead of the Fed's decision.

Against that backdrop, overnight China's National Bureau of Statistics will publish a barrage of real activity indicators for the month of May.

Across the Channel meanwhile, the spotlight will be on any possible remarks by European Central Bank boss, Christine Lagarde, at an event, also after the close of London markets, organised by the London School of Economics.

No major economic releases are scheduled in the UK.

Wednesday 15 June

INTERIMS

IDOX

INTERIM DIVIDEND PAYMENT DATE

Aeci 5 1/2% Prf

QUARTERLY PAYMENT DATE

Canadian General Investments Ltd.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (EU) (10:00)

Business Inventories (US) (15:00)

Crude Oil Inventories (US) (15:30)

Empires State Manufactacturing (US) (13:30)

Import and Export Price Indices (US) (13:30)

Industrial Production (EU) (10:00)

MBA Mortgage Applications (US) (12:00)

Retail Sales (US) (13:30)

Wholesale Price Index (GER) (07:00)

Q4

Ashtead Group

FINALS

Allied Minds , AO World, Castings, Severfield, Tatton Asset Management , WANdisco

AGMS

888 Holdings, Angling Direct , Christie Group, Dillistone Group, Distribution Finance Capital Holdings, Ferrexpo, Foresight Solar Fund Limited, Foxtons Group , IGas Energy, London & Associated Properties, NAHL Group, NB Global Monthly Income Fund Limited Red Ord Shs NPV £, Panther Securities, Phoenix Spree Deutschland Limited Shs NPV , Prospex Energy , PureTech Health , Science In Sport, Shanta Gold Ltd., Sourcebio International, Standard Life Investments Property Income Trust Ltd., Tortilla Mexican Grill, Whitbread

TRADING ANNOUNCEMENTS

WH Smith, Whitbread

FINAL DIVIDEND PAYMENT DATE

Ocean Wilsons Holdings Ltd.