Week ahead: Potential 75bp surprise Fed hike, BoE decision in focus

Investors' focus over the coming week will be squarely on the US central bank and whether or not it surprises with a 75 basis points interest rate hike on Wednesday.

Consensus is for a smaller 50bp hike in the target range for the Fed Funds rate.

But economists at Barclays Research believe that recent data showing continued broad-based price gains and signs that Americans' medium-term inflation expectations are shifting higher argue for a surprise larger-than-expected move to help re-anchor them.t

Barclays also expects the Fed to then guide for smaller 50bp moves on rates at subsequent policy meetings until "clear and consistent" evidence is available that inflation is indeed coming down.

Against that backdrop, the Monetary Policy Committee is expected to follow suit with a smaller 25b rate hike the next day.

Bank is seen guiding towards a further 25bp hike in August and pausing afterwards.

Due out on Wednesday as well is a barrage of economic activity indicators for May out of the People´s Republic of China.

Rate-setters in Switzerland and Taiwan are also due to make policy announcements, on Thursday, and those in Japan come Friday.

Worth noting, especially given the recent pressure on the euro, European Central Bank boss, Christine Lagarde, is due to participate at an event hosted by the London School of Economics, on Thursday.

She will be followed by her number two, vice-President, Luis de Guindos, the next day. De Guindos is also due to deliver a speech on Monday.

Scheduled for release on home shores are figures for monthly gross domestic product on Monday, April unemployment on Tuesday, and retail sales on Friday.

Monday 13 June

FINALS

B.P. Marsh & Partners, Molten Ventures, Sirius Real Estate Ltd.

SPECIAL DIVIDEND PAYMENT DATE

ICG-Longbow Senior Secured UK Property Debt Investments Ltd

AGMS

British Smaller Companies VCT 2, CEPS, Mirriad Advertising , Spectra Systems Corporation, VPC Specialty Lending Investments

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

Hiscox Limited (DI), North American Income Trust (The)

Tuesday 14 June

INTERIMS

Crest Nicholson Holdings, Foresight Sustainable Forestry Company, Paragon Banking Group

INTERIM DIVIDEND PAYMENT DATE

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

QUARTERLY PAYMENT DATE

Round Hill Music Royalty Fund Limited NPV

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Price Index (GER) (07:00)

Producer 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)

Q3

Ferguson

FINALS

CML Microsystems, Discoverie Group, Iomart Group, OnTheMarket, Oxford Instruments, Palace Capital , Vianet Group

AGMS

Andrews Sykes Group, Coro Energy, Everyman Media Group , Fair Oaks Income Limited 2021 Shs NPV, IP Group, NB Private Equity Partners Ltd., Octopus Titan VCT , SDX Energy Inc. (DI), Somero Enterprises Inc. (DI)

TRADING ANNOUNCEMENTS

Bellway

UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (07:00)

Unemployment Rate (07:00)

FINAL DIVIDEND PAYMENT DATE

Bank of Ireland Group (CDI), RHI Magnesita N.V. (DI)

Wednesday 15 June

INTERIMS

IDOX

INTERIM DIVIDEND PAYMENT DATE

Aeci 5 1/2% Prf

QUARTERLY PAYMENT DATE

Canadian General Investments Ltd.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (EU) (10:00)

Business Inventories (US) (15:00)

Crude Oil Inventories (US) (15:30)

Empires State Manufactacturing (US) (13:30)

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

Industrial Production (EU) (10:00)

MBA Mortgage Applications (US) (12:00)

Retail Sales (US) (13:30)

Wholesale Price Index (GER) (07:00)

Q4

Ashtead Group

FINALS

Allied Minds , AO World, Castings, Severfield, Tatton Asset Management , WANdisco

AGMS

888 Holdings, Angling Direct , Christie Group, Dillistone Group, Distribution Finance Capital Holdings, Ferrexpo, Foresight Solar Fund Limited, Foxtons Group , IGas Energy, London & Associated Properties, NAHL Group, NB Global Monthly Income Fund Limited Red Ord Shs NPV £, Panther Securities, Phoenix Spree Deutschland Limited Shs NPV , Prospex Energy , PureTech Health , Science In Sport, Shanta Gold Ltd., Sourcebio International, Standard Life Investments Property Income Trust Ltd., Tortilla Mexican Grill, Whitbread

TRADING ANNOUNCEMENTS

WH Smith, Whitbread

FINAL DIVIDEND PAYMENT DATE

Ocean Wilsons Holdings Ltd.

Thursday 16 June

INTERIM EX-DIVIDEND DATE

Foresight Enterprise VCT , Impax Asset Management Group, Nexus Infrastructure , Tharisa (DI), Witan Investment Trust Plc

QUARTERLY PAYMENT DATE

Unilever

QUARTERLY EX-DIVIDEND DATE

Aberdeen Diversified Income and Growth Trust , Anglo Pacific Group, Brunner Inv Trust, Ediston Property Investment Company, XP Power Ltd. (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Building Permits (US) (13:30)

Continuing Claims (US) (13:30)

Housing Starts (US) (13:30)

Initial Jobless Claims (US) (13:30)

Philadelphia Fed Index (US) (13:30)

FINALS

Best of the Best, Biffa, Halma, Jlen Environmental Assets Group Limited NPV, Syncona Limited NPV

SPECIAL DIVIDEND PAYMENT DATE

Alfa Financial Software Holdings

SPECIAL EX-DIVIDEND DATE

Keystone Law Group , Persimmon, Personal Assets Trust

EGMS

Ruffer Investment Company Ltd Red PTG Pref Shares

AGMS

AEX Gold Inc. NPV (DI), Alba Mineral Resources, Amati AIM Vct , Anexo Group , Anpario, Baillie Gifford China Growth Trust , Bisichi , Engage XR Holdings (CDI), EPE Special Opportunities Limited (DI), Evraz, Informa, International Consolidated Airlines Group SA (CDI), Kape Technologies, MHP SE GDR (Reg S), S4 Capital, TBC Bank Group, UK Commercial Property Reit Limited

TRADING ANNOUNCEMENTS

Boohoo Group

UK ECONOMIC ANNOUNCEMENTS

BoE Interest Rate Decision (12:00)

FINAL DIVIDEND PAYMENT DATE

Northbridge Industrial Services

FINAL EX-DIVIDEND DATE

3i Infrastructure, Amati AIM Vct , Downing Strategic Micro-Cap Investment Trust Red, Ferrexpo, Fidelity China Special Situations , Forterra, Inspired, Intermediate Capital Group, Jadestone Energy, JTC, Keystone Law Group , Land Securities Group, Maven Income & Growth VCT, Peel Hunt Limited NPV, Pets at Home Group , RS Group, S&U, Shanta Gold Ltd., TBC Bank Group, Warpaint London

Friday 17 June

INTERIM DIVIDEND PAYMENT DATE

Avingtrans, BlackRock Greater Europe Inv Trust, Cerillion , Sage Group

QUARTERLY PAYMENT DATE

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

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Capacity Utilisation (US) (14:15)

Industrial Production (US) (14:15)

AGMS

Aseana Properties Ltd., Blackstone Loan Financing Limited (EUR), City of London Group, Directa Plus, EnQuest, Insight Business Support, Metals Exploration, Octopus Renewables Infrastructure Trust , Tesco

TRADING ANNOUNCEMENTS

Tesco

FINAL DIVIDEND PAYMENT DATE

Advanced Medical Solutions Group, Andrews Sykes Group, BlackRock Smaller Companies Trust, Burford Capital NPV (DI), Intertek Group, Keywords Studios, M. P. Evans Group, Midwich Group, Mincon Group (CDI), Pagegroup, Petershill Partners , Science Group