In the week leading up to the Christmas holidays the economic calendar is quieting down, with the Bank of Japan the last of the major central banks to hold a meeting this year. In the U.S. data on housing and consumer confidence will give fresh insights into the strength of the economy as recession fears weigh.
The uber-dovish Bank of Japan is widely expected to stick with the negative interest rates that have set it apart from its global peers at its final meeting of the year on Tuesday, despite rising inflation.
BOJ Governor Haruhiko Kuroda is due to step down in April after a decade at the helm and a major policy shift is seen as unlikely before then.
Meanwhile, inflation data for November is due out on Thursday and is expected to show another uptick.
Investors get an update on the health of the U.S. housing market this week with November figures on housing starts along with new and existing home sales all due.
Data on personal income and spending is due for release on Friday and will be closely watched after the last two consumer price index reports indicated that price pressures appear to be cooling, leading to hopes that inflation may have peaked.
Thursday will see investors await news from a hearing on the final sale of cryptocurrency lending platform Celsius Network’s assets, as it liquidates in bankruptcy court.
The U.K. is also turning quiet after last week’s 50 basis point rate hike by the Bank of England. Figures on public sector borrowing on Wednesday and final data on third quarter GDP data on Thursday will be the highlights.
There are no scheduled appearances by any BoE officials this week.
This Week’s High Impact Events
The times below are GMT +2.
Monday 19th December
No High Impact Events
Tuesday 20th December
02.30 – Australia – Monetary Policy Meeting Minutes
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