This week we kick things off with inflation data followed by the final rate decision for the year by the Federal Reserve, The Bank of England, and the European Central Bank. Then we close out the week with retail sales in the US and the UK.
Tuesday
At 8:30 AM, The Consumer Price Index is projected to fall to 7.3%, down from the reported 7.7% print in October. However, some are concerned that because producer prices didn’t fall as much as expected that could mean the same for consumer prices in November.
Wednesday
The big day starts across the pond at 2:00 AM with inflation data from the UK projected to dip slightly to 10.9%, a 0.2% dip from October. At 7:00 AM, mortgage demand and rate data from last week.
The big story of the day will be the Federal Open Market Committee’s decision to raise the federal funds rate. Chairman Jerome Powell has telegraphed a 50 basis point hike that will increase the rate to 4.0%
Thursday
The day starts with Interest rate decisions from the Bank of England and the European Central Bank with both central banks projected to raise rates by 50 basis points. At 8:30 AM, retail sales are expected to show a 0.2% decline in November and jobless claims are expected to remain at 230k. At Noon, the weekly mortgage rate for the week will be released.