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14 Dec 2015
Key events ahead: FOMC projections centre point - Nomura
FXStreet (Barcelona) - Analysts at Nomura offered the key events for the week ahead in the G10's, with times in GMT.
Key Quotes:
"US data: CPI YoY (Tuesday 13:30), Industrial Production MoM (Wednesday 14:15) 2. Central banks: FOMC (Wednesday 19:00), Riksbank (Tuesday 08:30), BoJ (Friday), Norges bank (Thursday 09:00) 3. UK: CPI YoY (Tuesday 09:30), Retail Sales (Thursday, 09:30)."
"We expect the FOMC to raise short-term interest rates next week as comments from officials in recent months have suggested that the bar for liftoff is low. The attention now shifts to what happens after liftoff, and we think the Committee will continue to stress that subsequent rate adjustments will be “gradual” and “data dependent.”
The FOMC’s projections for the economic and inflation outlook and how it ties into its expectation of the path of policy will be the central topic to focus on.
On the data front, we continue to expect a gradual pick-up in core inflation in the medium term (0.16% m-o-m (2.0% y-o-y) in core CPI for November), after both headline and core CPI were modestly stronger than expected in October due to acceleration in prices for medical care services.
We expect industrial production to have declined by 0.6% in November following its 0.2% fall in October, after considering recent contractions in manufacturing activity (see Life after lift-off, 11 December 2015)."
Key Quotes:
"US data: CPI YoY (Tuesday 13:30), Industrial Production MoM (Wednesday 14:15) 2. Central banks: FOMC (Wednesday 19:00), Riksbank (Tuesday 08:30), BoJ (Friday), Norges bank (Thursday 09:00) 3. UK: CPI YoY (Tuesday 09:30), Retail Sales (Thursday, 09:30)."
"We expect the FOMC to raise short-term interest rates next week as comments from officials in recent months have suggested that the bar for liftoff is low. The attention now shifts to what happens after liftoff, and we think the Committee will continue to stress that subsequent rate adjustments will be “gradual” and “data dependent.”
The FOMC’s projections for the economic and inflation outlook and how it ties into its expectation of the path of policy will be the central topic to focus on.
On the data front, we continue to expect a gradual pick-up in core inflation in the medium term (0.16% m-o-m (2.0% y-o-y) in core CPI for November), after both headline and core CPI were modestly stronger than expected in October due to acceleration in prices for medical care services.
We expect industrial production to have declined by 0.6% in November following its 0.2% fall in October, after considering recent contractions in manufacturing activity (see Life after lift-off, 11 December 2015)."