Highlights
Following no change in policy by the US Federal Reserve on Wednesday, leaving the fed funds rate in its range of 5.25 percent to 5.50 percent, other central bank banks are also forecast to stand pat on Thursday.
At its quarterly monetary policy meeting, Taiwan's central bank is expected to hold its policy interest rate at 1.875 percent amid easing inflation. The official announcement is expected before 1900 Taipei time, which is 4 a.m. EST (0900 GMT). In June, the bank maintained its policy rate for the first time in more than a year after raising it for the fifth straight time in March.
In Switzerland, the producer and import price index is seen edging 0.1 percent higher on the month in November after a 0.2 percent increase in October.
At 3:30 a.m. EST (0830 GMT), the Swiss National Bank (SNB) is scheduled to announce its monetary stance in its quarterly Monetary Policy Assessment.The SNB is expected to keep the policy interest rate unchanged at 1.75 percent as inflation is steady and low and the Swiss franc remains strong.
Later at 7 a.m. EST (1200 GMT), the Bank of England is expected to announce that it is leaving Bank Rate unchanged at 5.25 percent. Back-to-back decisions in November and September to leave policy on hold followed 14 successive increases at prior meetings, bolstering the view that the BoE's tightening cycle has run its course.
At 8:15 a.m. EST (1415 CET/1315 GMT), the European Central Bank will release its monetary policy decision. After stepping aside at their October meeting that followed 11 straight rate hikes, the ECB is widely expected to once again keep the policy rate at 4.50 percent.
ECB President Christine Lagarde will hold a post-meeting news conference at 8:45 a.m. EST (1445 CET/1345 GMT).
In the US, new jobless claims for the December 9 week are expected to come in at 223,000 versus an as-expected 220,000 in the prior week.
Retail sales are expected to slip 0.1 percent on the month in November to match October's 0.1 percent dip that followed September's 0.9 percent jump. Excluding vehicles and gasoline purchases, sales are seen up 0.1 percent after rising at the same rate the previous month.
Import prices fell a steeper-than-expected 0.8 percent in October, with November's expectations at a 0.7 percent decline. Export prices, which in October fell 1.1 percent, are expected to fall 1.0 percent.
Business inventories in October are expected to be unchanged in October following a 0.4 percent increase in September.
In Canada, manufacturing sales in October are expected to fall back 2.7 percent after rising 0.4 percent in September and 0.7 percent in August.
India's wholesale prices are expected to edge 0.1 percent higher on the month in November after a 0.2 percent increase in October. The WPI is expected to be flat on the year after falling 0.52 percent.
Among key Chinese data, fixed asset investment in November is expected to rise 3.0 percent, following increases of 2.9 percent in October and 3.1 percent in September.
Year-over-year growth in industrial production is expected to accelerate to 5.7 percent in November from 4.6 percent in October, which was just above expectations and led by a 5.1 percent rise in manufacturing output.
Retail sales in November are expected to rise 12.5 percent on year after rising 7.6 percent in October versus expectations for 7.0 percent.
At its quarterly monetary policy meeting, Taiwan's central bank is expected to hold its policy interest rate at 1.875 percent amid easing inflation. The official announcement is expected before 1900 Taipei time, which is 4 a.m. EST (0900 GMT). In June, the bank maintained its policy rate for the first time in more than a year after raising it for the fifth straight time in March.
In Switzerland, the producer and import price index is seen edging 0.1 percent higher on the month in November after a 0.2 percent increase in October.
At 3:30 a.m. EST (0830 GMT), the Swiss National Bank (SNB) is scheduled to announce its monetary stance in its quarterly Monetary Policy Assessment.The SNB is expected to keep the policy interest rate unchanged at 1.75 percent as inflation is steady and low and the Swiss franc remains strong.
Later at 7 a.m. EST (1200 GMT), the Bank of England is expected to announce that it is leaving Bank Rate unchanged at 5.25 percent. Back-to-back decisions in November and September to leave policy on hold followed 14 successive increases at prior meetings, bolstering the view that the BoE's tightening cycle has run its course.
At 8:15 a.m. EST (1415 CET/1315 GMT), the European Central Bank will release its monetary policy decision. After stepping aside at their October meeting that followed 11 straight rate hikes, the ECB is widely expected to once again keep the policy rate at 4.50 percent.
ECB President Christine Lagarde will hold a post-meeting news conference at 8:45 a.m. EST (1445 CET/1345 GMT).
In the US, new jobless claims for the December 9 week are expected to come in at 223,000 versus an as-expected 220,000 in the prior week.
Retail sales are expected to slip 0.1 percent on the month in November to match October's 0.1 percent dip that followed September's 0.9 percent jump. Excluding vehicles and gasoline purchases, sales are seen up 0.1 percent after rising at the same rate the previous month.
Import prices fell a steeper-than-expected 0.8 percent in October, with November's expectations at a 0.7 percent decline. Export prices, which in October fell 1.1 percent, are expected to fall 1.0 percent.
Business inventories in October are expected to be unchanged in October following a 0.4 percent increase in September.
In Canada, manufacturing sales in October are expected to fall back 2.7 percent after rising 0.4 percent in September and 0.7 percent in August.
India's wholesale prices are expected to edge 0.1 percent higher on the month in November after a 0.2 percent increase in October. The WPI is expected to be flat on the year after falling 0.52 percent.
Among key Chinese data, fixed asset investment in November is expected to rise 3.0 percent, following increases of 2.9 percent in October and 3.1 percent in September.
Year-over-year growth in industrial production is expected to accelerate to 5.7 percent in November from 4.6 percent in October, which was just above expectations and led by a 5.1 percent rise in manufacturing output.
Retail sales in November are expected to rise 12.5 percent on year after rising 7.6 percent in October versus expectations for 7.0 percent.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.
