Week ahead: BoE, Global PMIs in the spotlight

Investors' focus over the coming week was expected to be on the Bank of England's policy announcement on Thursday.

Its main policy body, the Monetary Policy Committee, was widely expected to push through a further 25 basis point increase in Bank Rate, but it remained to be seen just hawkish it would be looking ahead.

Commenting on the outlook for rates in the UK, economists at Citi said domestic inflation dynamics remained stable, weighing against a faster pace of rate hikes.

Neither did they believe that a higher terminal rate was justified.

Further overshoots in services inflation or salaries could argue for a 50bp move, but the threshold for that had yet to be cleared and seemed unlikely in the very near term.

Citi's forecasts were calling for 25bp hikes in June and August, possibly followed by a third in September.

Central banks in Switzerland and Norway were also expected to hike rates by 25bp, both on Thursday.

Speeches from top US central bank officials were also likely to be in focus, not least Fed chair Jerome Powell's testimony before the House Financial Services Panel on Wednesday.

They would be preceded at the start of the week by a barrage of ECB speakers.

During the preceding week, America's central bank had hiked rates and opened the door to two more rate hikes before 2023 was out.

Consumer and factory gate price data for May were also due out on Wednesday, alongside public sector net borrowing figures covering that same month.

Financial markets were likely to also be keeping an eye out for any further reports of additional economic stimulus in the People's Republic of China.

Furthermore, it was anticipated that on Tuesday rate-setters in Beijing would cut interest rates.

Stateside, housing starts and existing home sales figures were scheduled for Tuesday and Thursday.

The latest batch of weekly initial unemployment claims figures, on Thursday, might also garner a fair bit of attention.

At the end of the week, S&P Global would release its preliminary June purchasing managers' survey results for the UK, euro area and US.

Worth noting, US stock markets would be closed on 19 June in observance of the national Juneteenth holiday commemorating the emancipation of African Americans.

Monday June 19

INTERIM DIVIDEND PAYMENT DATE

BlackRock Greater Europe Inv Trust

GMS

Marlowe, Red Rock Resources

FINALS

NextEnergy Solar Fund Limited Red, Triple Point Energy Transition

AGMS

BlackBird, Metals Exploration, MHP SE GDR (Reg S), Nova Ljubljanska Banka D.D., Ljubljana GDR (Reg S), Savannah Resources

FINAL DIVIDEND PAYMENT DATE

Coca-Cola HBC AG (CDI), Fintel, Inchcape, Pagegroup

Tuesday June 20

INTERIM DIVIDEND PAYMENT DATE

Jersey Electricity 'A' Shares

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Building Permits (US) (13:30)

Current Account (EU) (09:00)

Housing Starts (US) (13:30)

Producer Price Index (GER) (07:00)

FINALS

Enteq Technologies, Gear4music (Holdings), IG Design Group, Intercede Group

AGMS

Acceler8 Ventures , Afentra , Armadale Capital, Bay Capital , Block Energy , Corero Network Security, Coro Energy, Crimson Tide, Curtis Banks Group, EPE Special Opportunities Limited (DI), ICG-Longbow Senior Secured UK Property Debt Investments Ltd, Jersey Oil and Gas , Kore Potash, North Atlantic Smaller Companies Inv Trust, Prospex Energy , Red Capital , Saga , SDX Energy Inc. (DI), Skillcast Group, Zegona Communications

TRADING ANNOUNCEMENTS

SThree

FINAL DIVIDEND PAYMENT DATE

Yu Group

Wednesday June 21

INTERIM DIVIDEND PAYMENT DATE

Fidelity Special Values, Tharisa (DI), Virgin Money UK

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

MBA Mortgage Applications (US) (12:00)

FINALS

Berkeley Group Holdings (The), Esken Limited, Liontrust Asset Management, Ra International Group

EGMS

Joint Stock Company National Atomic Company Kazatomprom GDR (Reg S)

AGMS

Afarak Group SE (DI), Argentex Group , Eqtec (CDI), HSS Hire Group , Hydrogen Utopia International, Intelligent Ultrasound Group , RTW Venture Fund Limited NPV, Schroders Capital Global Innovation Trust, Sivota , Sivota , Sivota , THG , UK Commercial Property Reit Limited

UK ECONOMIC ANNOUNCEMENTS

Consumer Price Index (07:00)

Producer Price Index (07:00)

Public Sector Net Borrowing (07:00)

Retail Price Index (07:00)

FINAL EX-DIVIDEND DATE

TotalEnergies SE

Thursday June 22

INTERIM EX-DIVIDEND DATE

Barings Emerging Emea Opportunities , Gooch & Housego, Maven Income and Growth VCT 5

QUARTERLY EX-DIVIDEND DATE

Abrdn Private Equity Opportunities Trust, Duke Royalty Limited, Mercantile Investment Trust (The), Round Hill Music Royalty Fund Limited NPV

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Current Account (US) (13:30)

Existing Home Sales (US) (15:00)

Initial Jobless Claims (US) (13:30)

FINALS

Alpha Financial Markets Consulting, Cordiant Digital Infrastructure Limited NPV, First Property Group, Manolete Partners, Mulberry Group, Urban Logistics Reit, Volex, XPS Pensions Group

SPECIAL DIVIDEND PAYMENT DATE

Hurricane Energy

SPECIAL EX-DIVIDEND DATE

Castings, Personal Assets Trust, Rurelec

AGMS

Alphawave IP Group , Angling Direct , Anglo Asian Mining, Boohoo Group, Braime Group, Card Factory, Ergomed , Falcon Oil & Gas Ltd., Futura Medical, Grand Vision Media Holdings , LongBoat Energy , Pathfinder Minerals , Robinson, Sanderson Design Group, Team17 Group, Tekcapital, Trellus Health, Whitbread

UK ECONOMIC ANNOUNCEMENTS

BoE Interest Rate Decision (12:00)

FINAL DIVIDEND PAYMENT DATE

Cenkos Securities, Gamma Communications, IP Group, NEWCASTLE 10 3/4% PERM INT BEARING SHS #1000

FINAL EX-DIVIDEND DATE

3i Group, Airtel Africa , Alliance Pharma, Baillie Gifford China Growth Trust , British Land Company, Discoverie Group, Flowtech Fluidpower, Fuller Smith & Turner, GB Group, Helical, Learning Technologies Group , Medica Group , Mitie Group, RWS Holdings, Tate & Lyle, Templeton Emerging Markets Inv Trust, Tribal Group, United Utilities Group, VP

Friday June 23

INTERIM DIVIDEND PAYMENT DATE

Cerillion , HSBC Holdings, Numis Corporation, Orchard Funding Group , Origin Enterprises (CDI), Sage Group

QUARTERLY PAYMENT DATE

BP, Tritax Eurobox (EUR), Tritax Eurobox (GBP), Vaalco Energy, Inc (DI)

GMS

Rathbones Group, Supply@Me Capital

AGMS

Cadogan Energy Solutions, Mears Group, Non-Standard Finance, Ocean Harvest Technology Group , Oxford Biomedica, Pelatro , Petrofac Ltd., Petrofac Ltd., Princess Private Equity Holding Ltd. (EUR), Supply@Me Capital , Vietnam Enterprise Investments (DI), VPC Specialty Lending Investments

UK ECONOMIC ANNOUNCEMENTS

GFK Consumer Confidence (00:01)

Retail Sales (07:00)

FINAL DIVIDEND PAYMENT DATE

Anexo Group , Ashtead Technology Holdings, Centamin (DI), Churchill China, H&T Group, Investec Non-Red Non-Cum Non-Part Prf Shs, Keller Group, LMS Capital, Spectra Systems Corporation, Spire Healthcare Group, Tesco, TI Fluid Systems