Today is Thursday the 15th of December, the day following the latest US interest rate decision, where they decided to hike rates by 50 bps, to 4.5%, and upgraded their terminal rate forecasts for 2023 to around 5.1% in the latest Summary of Economic projections.
Here are some things to look out for today
According to Federal Reserve Chair Jerome Powell, the central bank still has work to do in raising interest rates and combating inflation. Wall Street investors appear to have a different outlook for 2023.
Headline Retail Sales (reported this morning at 8:30 AM ET) were likely close to flat in November, according to estimates from economists, whose model predicts reasonable spending this holiday season despite inflationary pressures.
The Bank of England raised interest rates for the ninth time in a row, to a 14-year high of 3.5%, in order to combat sky-high inflation.
The European Central Bank is poised to slow the recent pace of interest-rate increases and outline plans to reduce its nearly $5.3 trillion bond holdings, broadening efforts to curb inflation, which remains five times the target.
ECB Interest rate Decision - Median forecasts expect a 50 bps hike to 2.5%.
Canadian House Starts, Annualized for November - Median forecast: 259k | Range: 282.4K / 250K | Prior 267.1k
US Retail Sales MoM for November - Median forecast -0.2% | Range 1.1% / -1.1% | Prior 1.3%
US Weekly Initial Jobless Claims - Median forecast: 232K | Range: 240K / 220K | Prior: 230k
ECB Press Conference with President Christine Lagarde, following the ECB Rate Decision, where Lagarde will reiterate the monetary policy statement, and take questions.
US Industrial Production MoM for November - Median Forecast for a flat read of 0% | Range 0.3% / -0.5% | Prior -0.1%
US Business Inventories MoM for October - Median Forecast 0.4% | Range 0.5% / 0.2% | Prior 0.4%
Good luck out there!