Week ahead: Fed rate decision, US CPI in the spotlight

All eyes over the coming week would be on the US central bank's policy announcement.

On Wednesday, rate-setters at the Federal Reserve were expected to keep the target range for short-term official interest rates at 5.0-5.25%.

However, investors were also keen to see what their views were on policy looking out to 2024.

Not least, they would be trying to glean the likelihood of further interest rate hikes before the current year was out.

The rate decision would be preceded the day before by the release of the consumer price report for May.

Consensus was for the year-on-year rate of headline CPI to have eased further, from 4.9% to 4.0%.

Other key reports to watch out for in the US were those for producer prices, also on Wednesday, followed by another on monthly retail sales and survey results for regional manufacturing, all on Thursday, and for consumer confidence on Friday.

A trio of economic activity reports in the People's Republic of China were also set for release on Thursday.

Central bank policy decisions scheduled for Thursday in the euro area and Japan, on Friday, also held the potential to move financial markets.

Back in the UK, on Tuesday the Office for National Statistics would release its employment and GDP reports, both for the month of April, on Tuesday and Wednesday, respectively.

Monday 12 June

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Budget Statement (US) (19:00)

GMS

Pembridge Resources, VPC Specialty Lending Investments

ANNUAL REPORT

TR Property Inv Trust

AGMS

Aurora Investment Trust, Brighton Pier Group (The), Oxford Nanopore Technologies , Oxford Nanopore Technologies , Round Hill Music Royalty Fund Limited NPV, Staffline Group

FINAL DIVIDEND PAYMENT DATE

North American Income Trust (The)

FINAL EX-DIVIDEND DATE

Compagnie de St-Gobain SA

Tuesday 13 June

INTERIMS

Atrato Onsite Energy, Driver Group, Hamak Gold Limited NPV (DI)

INTERIM DIVIDEND PAYMENT DATE

Avingtrans

QUARTERLY PAYMENT DATE

JPMorgan Claverhouse Inv Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Price Index (GER) (07:00)

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)

Q4

Ashtead Group

GMS

Aferian, Aferian, Pressure Technologies

FINALS

B.P. Marsh & Partners, Iomart Group, Mind Gym, Oxford Instruments, Tatton Asset Management

AGMS

Animalcare Group, Asiamet Resources Limited (DI) , Centrica, CEPS, Dillistone Group, EJF Investments Ltd NPV, Elixirr International , Flowtech Fluidpower, Frenkel Topping Group, Great Western Mining Corporation (CDI), Plant Health Care, Pod Point Group Holdings, Sound Energy , Zinnwald Lithium

TRADING ANNOUNCEMENTS

Bellway

UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (07:00)

Unemployment Rate (07:00)

FINAL DIVIDEND PAYMENT DATE

Bank of Ireland Group (CDI), Hiscox Limited (DI), Invesco Perpetual UK Smaller Companies Inv Trust, Ten Entertainment Group

Wednesday 14 June

INTERIMS

Safestore Holdings

INTERIM DIVIDEND PAYMENT DATE

NOTTS.B.S. 7 7/8% PERM INT BEARING SHS

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

Industrial Production (EU) (10:00)

MBA Mortgage Applications (US) (12:00)

Producer Price Index (US) (13:30)

GMS

Toyota Motor Corp.

FINALS

Ashtead Group, Castings, Eckoh, Marks Electrical Group, Motorpoint Group, Severfield

SPECIAL DIVIDEND PAYMENT DATE

Amur Minerals Corporation

AGMS

Abrdn Property Income Trust Limited , abrdn Smaller Companies Income Trust, Andrews Sykes Group, Aquila Energy Efficiency Trust, Aquila European Renewables (GBP), Aurrigo International, Brave Bison Group, Christie Group, Fisher (James) & Sons, Foresight Solar Fund Limited, Iofina, M&C Saatchi, Octopus Titan VCT , Petards Group

TRADING ANNOUNCEMENTS

Frontier Developments

UK ECONOMIC ANNOUNCEMENTS

Balance of Trade (07:00)

Gross Domestic Product (07:00)

Index of Services (07:00)

Industrial Production (07:00)

Manufacturing Production (07:00)

FINAL DIVIDEND PAYMENT DATE

Compagnie de St-Gobain SA, TBC Bank Group

Thursday 15 June

INTERIM DIVIDEND PAYMENT DATE

Aeci 5 1/2% Prf, Enwell Energy

INTERIM EX-DIVIDEND DATE

AVI Global Trust , Blackrock Frontiers Investment Trust, Foresight Enterprise VCT , Impax Asset Management Group, Witan Investment Trust Plc

QUARTERLY PAYMENT DATE

Canadian General Investments Ltd., Petrotal Corporation NPV (DI), Unilever

QUARTERLY EX-DIVIDEND DATE

Brunner Inv Trust, Ecora Resources, Thomaslloyd Energy Impact Trust , Thomaslloyd Energy Impact Trust , TwentyFour Select Monthly Income Fund Limited , XP Power Ltd. (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (EU) (10:00)

Business Inventories (US) (15:00)

Capacity Utilisation (US) (14:15)

Continuing Claims (US) (13:30)

Empires State Manufactacturing (US) (13:30)

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

Industrial Production (US) (14:15)

Initial Jobless Claims (US) (13:30)

Philadelphia Fed Index (US) (13:30)

Retail Sales (US) (13:30)

Retail Sales Less Autos (US) (13:30)

Wholesale Price Index (GER) (07:00)

GMS

M & G Credit Income Investment Trust , Nanosynth group

FINALS

Halfords Group, Halma, Jlen Environmental Assets Group Limited NPV, Molten Ventures, Norcros, Syncona Limited NPV

EGMS

Amaroq Minerals Ltd. Npv (DI)

AGMS

Amaroq Minerals Ltd. Npv (DI), Anexo Group , ASA International Group , Baillie Gifford China Growth Trust , Directa Plus, Everyman Media Group , Informa, Inspects Group , IP Group, LBG Media , M & G Credit Income Investment Trust , NB Private Equity Partners Ltd., Novacyt S.A. (CDI), Parity Group, Pollen Street, Shaftesbury Capital, Slingsby H.C, Southern Energy Corp. NPV (DI)

TRADING ANNOUNCEMENTS

Fuller Smith & Turner

FINAL DIVIDEND PAYMENT DATE

Empresaria Group, Intertek Group, Kakuzi Ltd., Ocean Wilsons Holdings Ltd.

FINAL EX-DIVIDEND DATE

3i Infrastructure, Amati AIM Vct , Animalcare Group, Camellia, Computacenter, EMIS Group, Facilities by ADF, Fidelity China Special Situations , Foresight VCT, Forterra, Inspired, Intermediate Capital Group, Keystone Law Group , Land Securities Group, Manx Financial Group, Maven Income & Growth VCT, NewRiver REIT, Pets at Home Group , Pharos Energy , Rotala, RS Group, S&U, Warpaint London

Friday 16 June

INTERIM DIVIDEND PAYMENT DATE

Town Centre Securities

QUARTERLY PAYMENT DATE

I3 Energy , Pershing Square Holdings Ltd NPV, Pershing Square Holdings Ltd NPV (USD), Seplat Energy (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Harmonised Index of Consumer Prices (EU) (10:00)

GMS

John Lewis of Hungerford, Woodbois Limited

FINALS

Peel Hunt Limited NPV, Record

ANNUAL REPORT

SSE, SSE

AGMS

Alpha Growth , Anglo-Eastern Plantations, PJSC Tatneft ADS , Tesco

TRADING ANNOUNCEMENTS

Tesco

FINAL DIVIDEND PAYMENT DATE

Andrews Sykes Group, Aptitude Software Group , Bank of Cyprus Holdings Public Limited Company (CDI), Centralnic Group , Lookers, M. P. Evans Group, Midwich Group, Mincon Group (CDI), Petershill Partners , RBG Holdings, Science Group