Week ahead: Fed, BoE and ECB in the spotlight

Financial markets' focus in the next to last full week of trading of 2022 was expected be on monetary policy decisions in the US, UK and euro area.

On Wednesday, rate-setters in the States were widely expected to dial back on the pace of rate hikes to 50 basis points per meeting, alongside a hawkish set of projections from its top policymakers, including for a terminal rate of 5.125%.

To take note of, consumer price data for November due out the day before, together with the Fed's decision, could lead to a short squeeze in the Greenback, MUFG analyst Lee Hardman said in a research note sent to clients, as the dollar had already weakened noticeably since the last CPI report.

Nonetheless, Hardman believed that the US inflation and the dollar were both now past their respective peaks.

Thursday meanwhile would see the release of US retail sales figures for November and the Philly Fed's November factory sector survey results for December.

It was also set to be a busy week in the UK, with the Bank of England seen announcing another 50bp hike on Thursday.

Against that backdrop, monthly GDP data were due out on Monday, followed by a reading on employment in October on Tuesday, CPI numbers for November on Wednesday and reports on monthly consumer confidence and retail sales on Friday.

In the euro area, come Thursday the European Central Bank was also expected to raise its main policy rates by 50bp and to announce a shift towards only the partial reinvestment of the proceeds from its asset purchase programme.

It was also possible that the ECB would announce a timeline for the start of quantitative tightening.

On Friday meanwhile, S&P Global was scheduled to publish the preliminary results of its purchasing managers' surveys for euro area manufacturing and services activity in December.

Farther afield, in China, Thursday would bring with it a barrage of economic activity indicators for November.

Monday 12 December

FINALS

Tertiary Minerals, Polar Capital Global Healthcare Trust

INTERIMS

Tungsten West, Polar Capital Technology Trust, Byotrol, RUA Life Sciences, Coral Products

TRADING ANNOUNCEMENTS

Springfield Properties, Argentex Group, Oxford Cannabinoid Technologies Holdings, Engage XR Holdings (CDI), Sigmaroc, K3 Capital Group

AGMs

Tristel, Marwyn Value Investors Limited

ANNUAL REPORT

easyJet, WH Smith, Ten Lifestyle Group

DRILLING REPORT

Hamak Gold Limited NPV (DI), Artemis Resources Limited NPV (DI), Oriole Resources

FINAL DIVIDEND DATE

YouGov

QUARTERLY DIVIDEND PAYMENT DATE

Round Hill Music Royalty Fund Limited NPV, Brunner Inv Trust

UK ECONOMIC ANNOUNCEMENTS

Balance of Trade (07:00)

Index of Services (07:00)

Gross Domestic Product (07:00)

Industrial Production (07:00)

Tuesday 13 December

FINALS

Chemring Group, Hyve Group, Image Scan Holdings

INTERIMS

Sosandar

TRADING ANNOUNCEMENTS

Ocado Group

AGMs

Amedeo Air Four Plus Limited Red Ord NPV, Blancco Technology Group, Softcat, Avation, Macau Property Opportunities Fund Ltd.

GMs

Spectris

ANNUAL REPORT

Benchmark Holdings

FINAL DIVIDEND PAYMENT DATE

Pan African Resources

UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (07:00)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Price Index (GER) (07:00)

ZEW Survey (GER) - Economic Sentiment (10:00)

ZEW Survey (EU) - Economic Sentiment (10:00)

ZEW Survey (GER) - Current Situation (10:00)

Current Account (GER) (11:30)

Consumer Price Index (GER) (13:30)

Wednesday 14 December

FINALS

IntegraFin Holding, TUI AG Reg Shs (DI)

INTERIMS

Cyanconnode Holdings

AGMs

Volution Group, Fidelity Special Values, Tremor International LTD (DI), abrdn Latin American Income Fund Limited NPV

ANNUAL REPORT

TUI AG Reg Shs (DI)

SPECIAL DIVIDEND PAYMENT DATE

SLF Realisation Fund Limited NPV, SLF Realisation Fund Limited C Shs NPV

QUARTERLY EX-DIVIDEND DATE

General Electric Co (CDI)

UK ECONOMIC ANNOUNCEMENTS

Producer Price Index (07:00)

Retail Price Index (07:00)

Consumer Price Index (07:00)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Industrial Production (EU) (10:00)

MBA Mortgage Applications (US) (12:00)

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

Crude Oil Inventories (US) (15:30)

Thursday 15 December

FINALS

C4X Discovery Holdings

INTERIMS

Currys

TRADING ANNOUNCEMENTS

Serco Group

EGMs

Glenveagh Properties (CDI)

FINAL EX-DIVIDEND DATE

Hamak Gold Limited NPV (DI), Artemis Resources Limited NPV (DI), Oriole Resources

INTERIM X-DIVIDEND DATE

Balanced Commercial Property Trust Limited, TwentyFour Select Monthly Income Fund Limited, Supreme, MS International, Redde Northgate, BlackRock Energy and Resources Income Trust, Mercia Asset Management, Baltic Classifieds Group, Mitie Group, Burberry Group, Vertu Motors, DSW Capital, Smith (DS), Caspian Sunrise, Templeton Emerging Markets Inv Trust, Chelverton UK Dividend Trust, CT Global Managed Portfolio Trust Inc Shs, Hipgnosis Songs Fund Limited NPV, Ferguson, Pittards, Thames Ventures Vct 1, JPMorgan Global Markets Emerging Income Trust, US Solar Fund, Discoverie Group, Halfords Group, ICG-Longbow Senior Secured UK Property Debt Investments Ltd, US Solar Fund (GBP), Cranswick, Triad Group, Redcentric, Triple Point Energy Transition, Fuller Smith & Turner, TR Property Inv Trust

INTERIM DIVIDEND PAYMENT DATE

Ninety One, Murray Income Trust

SPECIAL EX-DIVIDEND DATE

Seneca Growth Capital Vct, Foresight Enterprise VCT

QUARTERLY EX-DIVIDEND DATE

Tritax Eurobox (GBP), Tritax Eurobox (EUR)

QUARTERLY DIVIDEND PAYMENT DATE

Canadian General Investments Ltd.

UK ECONOMIC ANNOUNCEMENTS

BoE Interest Rate Minutes (12:00)

BoE Interest Rate Decision (12:00)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Wholesale Price Index (GER) (07:00)

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

Philadelphia Fed Index (US) (13:30)

Retail Sales (US) (13:30)

Capacity Utilisation (US) (14:15)

Industrial Production (US) (14:15)

Business Inventories (US) (15:00)

Friday 16 December

INTERIMS

Gore Street Energy Storage Fund

AGMs

Baillie Gifford Japan Trust, CQS Natural Resources Growth and Income

Argos Resources Ltd. (DI), Aeorema Communications, DX (Group)

AGMs

GS Chain, Sareum Holdings, Bellway, Up Global Sourcing Holdings, Thor Explorations Ltd (D

FINAL DIVIDEND PAYMENT DATE

Croma Security Solutions Group, Fidelity Emerging Markets Limited Ptg NPV, BlackRock Greater Europe Inv Trust, James Halstead, Craneware, Springfield Properties

INTERIM DIVIDEND PAYMENT DATE

CML Microsystems, Grit Real Estate Income Group Limited NPV, Asia Dragon Trust, Telecom Plus, B&M European Value Retail S.A. (DI), Seneca Growth Capital Vct B, Kainos Group, Gresham House Energy Storage Fund, Sainsbury (J), Riverstone Credit Opportunities Income, Whitbread, Henderson Opportunities Trust, Utilico Emerging Markets Ltd (DI), Tatton Asset Management, Calnex Solutions, Scottish American Inv Company, Momentum Multi-Asset Value Trust, Caspian Sunrise, Triple Point Social Housing Reit, VH Global Sustainable Energy Opportunities, Scottish Mortgage Inv Trust, Volex, Harmony Energy Income Trust, Witan Inv Trust, Wynnstay Properties, Coral Products, Atrato Onsite Energy

SPECIAL DIVIDEND PAYMENT DATE

Union Jack Oil, TotalEnergies SE

QUARTERLY DIVIDEND PAYMENT DATE

BP, Pershing Square Holdings Ltd NPV, Pershing Square Holdings Ltd NPV (USD)

UK ECONOMIC ANNOUNCEMENTS

GFK Consumer Confidence (00:01)

Retail Sales (07:00)

PMI Manufacturing (09:30)

PMI Composite (09:30)

PMI Services (09:30)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

PMI Manufacturing (GER) (08:30)

PMI Composite (GER) (08:30)

PMI Services (GER) (08:30)

PMI Composite (EU) (09:00)

PMI Manufacturing (EU) (09:00)

PMI Services (EU) (09:00)

Consumer Price Index (EU) (10:00)

Balance of Trade (EU) (10:00)

PMI Composite (US) (14:45)

PMI Manufacturing (US) (14:45)

PMI Services (US) (14:45)