Week ahead: BoE, Fed and ECB rate meetings in focus
All eyes over the coming week will be on interest rate decisions from the Bank of England, Federal Reserve and European Central Bank.
Although no interest rate hikes are expected, investors are keen to see just how hawkish - or not - their policy statements remain.
In the case of the BoE, whose top officials were due to meet on Thursday, headline consumer prices had fallen back from a peak of 11.1% in 2022 to 4.6%.
Yet core CPI remained at a "lofty" 5.7% and wage growth was running at 7.9% year-on-year, Michael Hewson at CMC Markets UK pointed out.
Hence why three of its policymakers had continued to push for hikes when it last met.
"It will be interesting to see if they drop their dissent and opt for the status quo this week, with the markets also already pricing in some rate cuts for next year, although these are likely to come well after the ECB starts cutting with inflation here in the UK still over 2% higher than it is in the EU on an annualised basis," Hewson mused.
Similarly, said Hewson, no rate hikes were expected from the Fed, on Wednesday, but in his opinion the recent loosening in financial conditions might keep the U.S. central bank from showing any dovishness.
Prices in the euro area on the other hand had come down much more quickly than in the U.K., and even than in the U.S., so financial markets were expecting that the ECB would be first in cutting rates.
The ECB's governing council was also due to make its policy announcement on Thursday.
Against that backdrop, Tuesday would see the release of the latest UK employment data, followed by the latest U.S. retail sales and industrial production numbers on Thursday and Friday, respectively.
Friday would also bring with it the prelminary results for a barrage of purchasing managers' indices covering factory and services sector activity in the U.K., euro area and U.S. during the month of December.
Data for Chinese fixed asset investment, industrial production and retail sales in December would also be forthcoming on Friday.
Monday 11 December
INTERIMS
Begbies Traynor Group
QUARTERLY PAYMENT DATE
Asian Energy Impact Trust, Asian Energy Impact Trust
GMS
Nova Ljubljanska Banka D.D., Ljubljana GDR (Reg S), Sigmaroc
EGMS
Zhejiang Yongtai Technology Co. GDR (EACH Repr 5 A SHS) (REG S)
AGMS
Octopus Future Generations Vct, Vela Technologies
FINAL DIVIDEND PAYMENT DATE
YouGov
Tuesday 12 December
INTERIMS
Vianet Group
INTERIM DIVIDEND PAYMENT DATE
Investec Non-Red Non-Cum Non-Part Prf Shs
QUARTERLY PAYMENT DATE
Brunner Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (US) (13:30)
ZEW Survey (EU) - Economic Sentiment (10:00)
ZEW Survey (GER) - Current Situation (10:00)
ZEW Survey (GER) - Economic Sentiment (10:00)
GMS
Neometals Ltd Npv (Di)
FINALS
Chemring Group, RWS Holdings
EGMS
Atalaya Mining, Atalaya Mining
AGMS
Baillie Gifford Japan Trust, BlackRock Greater Europe Inv Trust, Henderson International Income Trust, International Biotech Trust, PCI-PAL, Time Out Group
TRADING ANNOUNCEMENTS
Gelion
UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (07:00)
Unemployment Rate (07:00)
FINAL DIVIDEND PAYMENT DATE
Pan African Resources
Wednesday 13 December
INTERIMS
Cohort
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Industrial Production (EU) (10:00)
MBA Mortgage Applications (US) (12:00)
Producer Price Index (US) (13:30)
AGMS
Dechra Pharmaceuticals, Limitless Earth, Softcat, Volution Group
TRADING ANNOUNCEMENTS
Volution Group
UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (07:00)
Crude Oil Inventories (US) (15:30)
Gross Domestic Product (07:00)
Index of Services (07:00)
Industrial Production (07:00)
Manufacturing Production (07:00)
Retail Price Index (07:00)
Thursday 14 December
INTERIMS
Currys , Gore Street Energy Storage Fund
INTERIM EX-DIVIDEND DATE
Baltic Classifieds Group, Burberry Group, Caffyns, Cranswick, Discoverie Group, DSW Capital, Fuller Smith & Turner, Halfords Group, Impellam Group, Mitie Group, Northern 2 VCT, Northern 3 VCT, Northern Venture Trust, Redde Northgate, Sirius Real Estate Ltd., Smith (DS), Templeton Emerging Markets Inv Trust, TR Property Inv Trust, Vertu Motors
QUARTERLY EX-DIVIDEND DATE
Balanced Commercial Property Trust Limited , Tritax Eurobox (EUR), Tritax Eurobox (GBP)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Inventories (US) (15:00)
Continuing Claims (US) (13:30)
Import and Export Price Indices (US) (13:30)
Initial Jobless Claims (US) (13:30)
Retail Sales (US) (13:30)
GMS
Cobra Resources, Molten Ventures, Oakley Capital Investments Ltd. (DI)
FINALS
C4X Discovery Holdings , Driver Group, IntegraFin Holding
SPECIAL EX-DIVIDEND DATE
Associated British Foods, SLF Realisation Fund Limited C Shs NPV, SLF Realisation Fund Limited NPV
AGMS
Aeorema Communications, Arc Minerals Limited NPV (DI), eEnergy Group, Fidelity Special Values, Fintech Asia Limited Npv, Grit Real Estate Income Group Limited NPV, Helium One Group Ltd (DI), Marwyn Value Investors Limited, Sareum Holdings
TRADING ANNOUNCEMENTS
Balfour Beatty
UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Decision (12:00)
FINAL DIVIDEND PAYMENT DATE
Aeci 5 1/2% Prf, NOTTS.B.S. 7 7/8% PERM INT BEARING SHS
FINAL EX-DIVIDEND DATE
Associated British Foods, Northamber, Oxford Metrics, Town Centre Securities, Witan Investment Trust Plc
Friday 15 December
INTERIM DIVIDEND PAYMENT DATE
Airtel Africa , B&M European Value Retail S.A. (DI), Cake Box Holdings, Calnex Solutions , DCC (CDI), Kainos Group , Portmeirion Group, ProVen Growth & Income VCT, ProVen VCT, Sainsbury (J), Scottish Mortgage Inv Trust, Tavistock Investments, Telecom Plus, Wincanton, Wynnstay Properties
QUARTERLY PAYMENT DATE
Pershing Square Holdings Ltd NPV, Pershing Square Holdings Ltd NPV (USD), Petrotal Corporation NPV (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (EU) (10:00)
Capacity Utilisation (US) (14:15)
Industrial Production (US) (14:15)
Wholesale Price Index (GER) (07:00)
SPECIAL DIVIDEND PAYMENT DATE
Canadian General Investments Ltd., Gattaca, Lancashire Holdings Limited
EGMS
Schroder Real Estate Investment Trust Ltd
AGMS
Abingdon Health , Aptamer Group, Bellway, Dci Advisors LTD, Etalon Group GDR (Reg S), Frontier IP Group, Renalytix (Reg S), Schroder BSC Social Impact Trust, Thor Explorations Ltd (DI), Ultimate Products , Wentworth Resources NPV
UK ECONOMIC ANNOUNCEMENTS
GFK Consumer Confidence (00:01)
FINAL DIVIDEND PAYMENT DATE
Asia Dragon Trust , Craneware, Croma Security Solutions Group, Fidelity Emerging Markets Limited Ptg NPV, Gattaca, Hargreaves Lansdown, James Halstead, SCS Group