Central Banks

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ECB interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged. Reiterates QE ends in this month.

The Federal Reserve released it's Biege Book Wednesday with the focus on wages and labor markets. The labor market tightened further while tariffs remain a concern as they spread more broadly.

The Bank of Canada held its key lending rate at 1.75 percent on Wednesday as expected. The BoC watching impact of tighter mortgage rules on builders and buyers, and sharply lower oil prices.

A hawkish New York Fed President John Williams said the Fed has reached its objectives as well as it ever has and that the US economy was on track to be the longest expansion ever.

The Reserve Bank of Australia (RBA) as expected kept interest rates on hold at the historic low of 1.5 per cent for the 28th consecutive meeting in December. Household consumption remains a source of uncertainty. Low rates seen supporting economy.

Heading into this weekend's G20 and with criticism from President Trump Federal Reserve Chairman Jerome Powell spoke at the New York Economic Club with decidely more dovish rhetoric talking of rates hikes mainly in the past tense and current rates "just below' neutral.

The South African Reserve Bank (SARB) increased its benchmark interest rate for the first time in over two years seeking to get ahead of what it sees as elevated inflation risks. The decision was split and comes depite cutting GDP and infaltion estimates.

The Federal Reserve as expected left rates unchanged after a two day meeting on Wednesday with Jerome Powell as Chairman. Markets had priced in a 90% chance of no hike. As expected they issued a statement saying strong growth and inflation on target.

The Bank of England voted 9 to 0 to maintain Base Rate at 0.75%. The asset purchase target of £435 billion for corporate and UK government bond purchases was voted unaminous.

ECB interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged. Reiterates QE ends in December subject to data.

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