The important economic events, that will drive the markets this week

It’s a monster week for central bank meetings across the globe, with most of the focus falling on Wednesday's Federal Reserve's meeting, where it is expected to raise interest rates by a quarter point.
Europe's top two central banks, the European Central Bank and Bank of England, will also hold their final meetings of the year this week, though it’s highly unlikely either will rock the boat policy-wise.
A monetary policy announcement from the Swiss National Bank will also be in focus.
Investors will also keep an eye out for Chinese industrial production data amid recent signs that momentum in the world's second largest economy is slowing.

1. Federal Reserve Rate Decision (Wednesday, 21:00)
The Federal Reserve is widely expected to raise the fed funds target range by a quarter point at the conclusion of its two-day policy meeting on Wednesday, which would put it in a range between 1.25%-1.50%.
Fed Chair Janet Yellen is to hold what will be a closely-watched press conference 30 minutes after the release of the Fed's statement, as investors look for fresh clues on the likely trajectory of monetary policy in the months ahead.

2. China Industrial Output (Thursday, 04:00)
China is to release November industrial production figures on Thursday, amid expectations for an increase of 6.2%, unchanged from the preceding month.
At the same time, the Asian nation will publish reports on fixed asset investment, retail sales, housing prices and the latest loan growth numbers.

3. SNB Policy Assessment (Thursday, 10:30)
The Swiss National Bank's quarterly monetary policy assessment is due on Thursday. Most economists expect the central bank’s benchmark interest rate to remain unchanged at -0.75%.
The SNB is also expected to stick to its commitment to foreign currency interventions if necessary.

4. Bank of England Policy Announcement (Thursday, 14:00)
The Bank of England will announce its rate decision on Thursday, with analysts expecting no major change in policy, as policymakers grapple with uncertainty over Brexit, low wage growth and weak productivity, which are all weighing on the economy.
Last month, the BoE added back the 25 basis points it took off borrowing costs in the aftermath of the Brexit vote, taking interest rates back to 0.50%, but said it sees only gradual rises ahead as Britain prepares to leave the European Union.

5. European Central Bank Policy Meeting (Thursday, 14:45)
The European Central Bank's latest interest rate decision is due on Thursday, with no major policy changes expected.
Most of the focus will be on President Mario Draghi's press conference 45 minutes after the announcement, where he is most likely to reiterate his pledge to support the economy and maintain super-low borrowing costs in the months ahead.
The ECB will also unveil initial 2020 inflation projections, which will likely show price growth at or just below target, rising only gradually over the coming three years, lending support to the bank's decision to withdraw monetary stimulus only slowly.

Source: Bloomberg Pro Terminal

Jr Trader Alexander Kumanov

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