Introduction to Central Bank Decisions
The Federal Reserve will announce its interest rate decision on Wednesday at 2 PM ET, followed by a speech from Fed Chair Powell at 2:30 PM ET. This decision is one of four central bank decisions scheduled for next week. The Reserve Bank of Australia will announce its rate decision on Monday night in the US, with expectations of no change at 3.60%. The Bank of Canada, coming off a second consecutive strong employment report, is also expected to keep rates unchanged, announcing on Wednesday at 9:45 AM with a current rate of 2.25%. Finally, the Swiss National Bank is expected to keep rates unchanged at 0.0% when they announce on Thursday morning.
Upcoming Economic Releases and Events
Of note, the US employment report, which typically would have been released, will be delayed until December 16. CPI data is also delayed until after the FOMC rate decision. Below is a list of major economic releases and events for next week.
Monday, December 8
- 10:30 PM ET: AUD – Cash Rate: Forecast 3.60%, Previous 3.60%
- AUD – RBA Rate Statement
- 11:30 PM ET: AUD – RBA Press Conference
Tuesday, December 9
- 4:00 AM ET: JPY – BOJ Gov Ueda Speaks
- USD – ADP Weekly Employment Change: Forecast —, Previous –13.5K
- 10:00 AM ET: USD – JOLTS Job Openings: Forecast 7.14M, Previous —
Wednesday, December 10
- 8:30 AM ET: USD – Employment Cost Index q/q: Forecast 0.9%, Previous 0.9%
- 9:45 AM ET: CAD – BOC Rate Statement
- CAD – Overnight Rate: Forecast 2.25%, Previous 2.25%
- 10:30 AM ET: CAD – BOC Press Conference
- 2:00 PM ET: USD – Federal Funds Rate: Forecast 3.75%, Previous 4.00%
- USD – FOMC Economic Projections
- USD – FOMC Statement
- 2:30 PM ET: USD – FOMC Press Conference
- 7:30 PM ET: AUD – Employment Change: Forecast 20.3K, Previous 42.2K
- AUD – Unemployment Rate: Forecast 4.4%, Previous 4.3%
Thursday, December 11
- 3:30 AM ET: CHF – SNB Monetary Policy Assessment
- CHF – SNB Policy Rate: Forecast 0.00%, Previous 0.00%
- 4:00 AM ET: CHF – SNB Press Conference
- 8:30 AM ET: USD – Unemployment Claims: Forecast 221K, Previous 191K
Conclusion
These central bank decisions and economic releases will provide significant insights into the current state of the global economy and are expected to influence market trends. The Federal Reserve’s interest rate decision and the subsequent speech by Fed Chair Powell are particularly anticipated, as they will offer clues about the future direction of monetary policy in the United States. As the global economy navigates through challenges and opportunities, these events will be closely watched by investors, policymakers, and the general public alike.
