The Federal Reserve will make its monetary policy statement and announce the official rate on December 19, at 21:00 MT time.
British economic surge adds in the second-quarter
The UK economy gathered just a little speed during the second quarter after nearly stalling at the beginning of the year, underpinned by the services sector as well as a flourishing film industry, as official figures disclosed on Wednesday.
Surge of 0.3% on the quarter from 0.2% in the first quarter – that’s an outcome, which is likely to cement hopes that the Bank of England will keep interest rates intact next week at their record minimum.
The outcome appeared to be i line with the median prediction in a Reuters survey of financial experts.
The previous year the UK economy gained 1.8%, thus becoming one the fastest of the world's seven key economies, ruining widespread predictions of downtime after the vote to abandon the European Union.
However, the Brexit vote provoked a huge drop in the value of the British pound, which has bolstered inflation, affecting consumers' disposable income.
The services industry turned to be the only driver of economic surge during the second quarter, backed by hotels, restaurants, and retailers, to say nothing of the UK rapidly growing film industry.
Find out the main market movers for today and the reasons behind the risk-off sentiment!
November’s euro zone consumer price inflation was suddenly updated downwards on Monday, thus contributing to skepticism that the EU’s key financial institution won’t be able to move ahead with an interest rate lift next year…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…