Wednesday preview: Fed rate decision, UK CPI in focus

(Sharecast News) - All eyes in the middle of the week will be on the Federal Reserve, as rate-setters in Washington D.C. wrap up their two-day monetary policy meeting. Consensus is for no change in the target range for the Fed funds rate, which currently stands at 5.25-5.50%.

However, policymakers are expected to leave the door open to another 25 basis point rate hike before the end of 2023.

So too, economists at Bank of America anticipate that the projections that the Fed's top officials will submit at the meeting will show they now expect 25bp less of rate cuts in 2024.

Against that backdrop, at 0700 BST the Office for National Statistics will publish consumer price figures for the U.K. in August.

Economists anticipate that the year-on-year rate of increase in headline CPI will have picked up from 6.8% during the previous month to 7.1%.

At the core level on the other hand CPI was seen dipping from 6.9% to 6.8%.

Wednesday 20 September

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INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

MBA Mortgage Applications (US) (12:00)

Producer Price Index (GER) (07:00)

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UK ECONOMIC ANNOUNCEMENTS

Consumer Price Index (07:00)

Producer Price Index (07:00)

Public Sector Net Borrowing (07:00)

Retail Price Index (07:00)