Investors expect 4 Bank of England rate cuts in 2024

Fed: US Federal Reserve officials are expected to hold interest rates steady at a 22-year high of 5.25 to 5.5 per cent when they announce their latest monetary policy decision at 2pm Eastern Time. Investors will closely watch Jay Powell’s press conference shortly thereafter, with the Fed chair under intense pressure to set out the central bank’s timeline for probable rate cuts next year.

Inflation: The US producer price index, a leading inflation indicator tracking wholesale prices, is projected to have increased 0.1 per cent in November after falling by a half-point in October. The annualised rate is expected to slide to 1 per cent from 1.3 per cent.

Impeachment vote: The US House of Representatives, the lower chamber of Congress, could vote to launch a formal impeachment inquiry into US president Joe Biden as soon as today, after Kevin McCarthy, the Republican speaker of the house, said Biden had lied “to the American people about his own knowledge of his family’s business dealings”.

SEC: The US Securities and Exchange Commission, the federal securities regulator, is set to vote on whether to adopt amendments to standards for US Treasury clearing agencies.


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