Week ahead: Fed and BoE in focus

All eyes will be on the US in the coming week, especially now that expectations for further easing from the Bank of England appear to have shifted towards February 2017, instead of next week´s meeting.

Rate-setters in Washington DC will meet on Thursday to debate their next policy move.

No changes in policy settings are expected by the consensus.

Having said that, Morgan Stanley does expect the Fed to alter the language of its post-meeting statement to indicate the time has come to lift rates further [in December].

Nonetheless, the US central bank will be fighting an uphill battle again in 2017 when trying to carry out the two interest rate hikes it has guided towards thus far, the investment bank said.

"Those hikes are predicated on an economic outlook we see as likely too optimistic again, which includes an expectation that a late cycle economy re-accelerates to above potential growth while the unemployment rate falls below NAIRU. This lofty outlook we think sets the FOMC up for disappointment and ultimately the delivery of fewer hikes than what policymakers have currently penciled in."

As if the above were not enough, markets will also be waiting on the latest monthly US employment report due out on Friday.

Avoiding any 'hiccups' in economic activity were key with regards to the chances of a December Fed hike, Morgan Stanley said.

Back in the UK, the emphasis in markets will be on the latest set of macroeconomic projections contained in the BoE´s quarterly Inflation Report.

Markit´s manufacturing and service sector purchasing managers´ surveys for October, scheduled for release on Wednesday and Thursday, will also be closely watched as investors look to confirm to what extent the economy´s resilience extended into the fourth quarter.

Monday 31 October

INTERIMS
Berkeley Group Holdings (The)

INTERIM DIVIDEND PAYMENT DATE
Essentra, NAHL Group, Safestyle UK , Wynnstay Group

QUARTERLY PAYMENT DATE
Albion Technology & General VCT, F&C Commercial Property Trust Ltd., Funding Circle SME Income Fund, JP Morgan Chase & Co, Middlefield Canadian Income PCC, Schroder Income Growth Fund

QUARTERLY EX-DIVIDEND DATE
Tetragon Financial Group Limited

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Chicago PMI (US) (13:45)
Consumer Price Index (EU) (10:00)
Gross Domestic Product (EU) (10:00)
Personal Consumption Expenditures (US) (12:30)
Personal Income (US) (12:30)
Personal Spending (US) (12:30)
Retail Sales (GER) (07:00)

Q3
Nord Gold SE GDR (Reg S), Novolipetsk Steel GDS (Reg S)

FINALS
Wey Education

EGMS
Global Ports Investments GDR (REG S)

AGMS
Edinburgh Worldwide Inv Trust, Myanmar Investments International Ltd, Red Emperor Resources NL (DI), Sacoven

TRADING ANNOUNCEMENTS
WPP

UK ECONOMIC ANNOUNCEMENTS
Consumer Credit (09:30)
M4 Money Supply (09:30)
Mortgage Approvals (09:30)

FINAL DIVIDEND PAYMENT DATE
City of London Investment Group, Heavitree Brewery 11 1/2% Cum Prf , Ishares VI (The Company) Ishares Global HY Corporate Bond Ucits GH ETF, Pembroke Vct, Pembroke Vct B

Tuesday 01 November

INTERIMS
Falanx Group Ltd, First Derivatives

INTERIM DIVIDEND PAYMENT DATE
Aquatic Foods Group , Mears Group

QUARTERLY PAYMENT DATE
Mercantile Investment Trust (The), Torchmark Corp.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Construction Spending (US) (15:00)
ISM Manufacturing (US) (15:00)
ISM Prices Paid (US) (14:00)

Q3
Royal Dutch Shell 'A', Shire Plc

FINALS
Egdon Resources

AGMS
Murray Income Trust

FINAL DIVIDEND PAYMENT DATE
Alumasc Group, Mattioli Woods, Produce Investments, Smith (DS)

Wednesday 02 November

INTERIM DIVIDEND PAYMENT DATE
Andrews Sykes Group, Carillion, StatPro Group

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (14:30)
MBA Mortgage Applications (11:00)
MBA Mortgage Applications (US) (11:00)
Unemployment Rate (GER) (08:55)

Q3
Indivior, Livanova , Smurfit Kappa Group

IMSS
Old Mutual

UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
PMI Construction (08:30)

Thursday 03 November

INTERIM DIVIDEND PAYMENT DATE
International Public Partnerships Ltd., STM Group

INTERIM EX-DIVIDEND DATE
Amati VCT , BlackRock Smaller Companies Trust, C&C Group, Elderstreet VCT, Harworth Group, Hilton Food Group, JZ Capital Partners Ltd, Laird, Mission Marketing Group, Morgan Advanced Materials , RTC Group, SThree, Trinity Mirror

QUARTERLY EX-DIVIDEND DATE
JPMorgan Claverhouse Inv Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (12:30)
Crude Oil Inventories (US) (14:30)
Factory Orders (US) (15:00)
Initial Jobless Claims (US) (12:30)
ISM Non-Manufacturing (US) (14:00)
Unemployment Rate (EU) (10:00)

Q3
Inmarsat, Lancashire Holdings Limited, RSA Insurance Group, Smith & Nephew

IMSS
RSA Insurance Group

DRILLING REPORT
Glencore

SPECIAL EX-DIVIDEND DATE
Calculus VCT, Playtech, TMT Investments, TR European Growth Trust

EGMS
Amiad Water Systems Ltd, BCRE - Brack Capital Real Estate Investments N.V. (DI), Matomy Media Group Limited (DI)

AGMS
Go-Ahead Group, New Star Investment Trust

TRADING ANNOUNCEMENTS
Persimmon, Regus

UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Decision (12:00)
Nationwide House Price Index (07:00)

FINAL DIVIDEND PAYMENT DATE
Redde, Standard Life UK Smaller Companies Trust

FINAL EX-DIVIDEND DATE
Aeorema Communications, Ashmore Group, BlackRock Greater Europe Inv Trust, Blancco Technology Group, Clinigen Group, CVC Credit Partners European Opportunities Ltd EURO, CVC Credit Partners European Opportunities Ltd GBP, Dunelm Group, Fidelity Asian Values, Foresight Solar & Infrastructure VCT, Foresight Solar & Infrastructure VCT , James Halstead, JPMorgan Global Growth & Income, JPMorgan Income & Growth Inv Trust Income Shares, New Star Investment Trust, NWF Group, SCS Group , TR European Growth Trust

Friday 04 November

INTERIM DIVIDEND PAYMENT DATE
Ascential, BBA Aviation, Bodycote, Cello Group, Cobham, CRH, Elecosoft, F&C Private Equity Trust, Fisher (James) & Sons, Hastings Group Holdings , Huntsworth, Johnson Service Group, Judges Scientific, M. P. Evans Group, OneSavings Bank, Rightmove, SIG, Synthomer, Unite Group, Weir Group, XLMedia

QUARTERLY PAYMENT DATE
Investors Capital Trust 'A' Shares

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (US) (12:30)
Producer Price Index (EU) (10:00)
Unemployment Rate (US) (12:30)

Q3
Kennedy Wilson Europe Real Estate

AGMS
Jupiter Energy Ltd

TRADING ANNOUNCEMENTS
Paddy Power Betfair

FINAL DIVIDEND PAYMENT DATE
Begbies Traynor Group, Eckoh